There are many different brands of CD media on the market. Some hold 650mb, some 700mb some hold more but the brand I use most often is made by Verbatim. There are two main types of CD media, CD-R discs are write once only disc's, meaning you can not add to their contents once they are burned and CD-RW disc's which means you can re write the contents upto 1000 times, with good brands, with CD-R disc's you can't do this.
if you want to play music on your stereo use cd-r(cd-rw doesn't work on most stereos)or you if you want to burn a copy of software.
use cd-rw if you just want to use it on that computer.
you format cd-rw so you can use it like a floppy to store stuff.
dont format cd-r.
Whether you format or not depends on how you want to write. EZ CD Creator is mastering software and you don’t format to use it. You never format for music to be recorded as wave files rather than just MP3 files. Most people end up using just the mastering software after a while.
You format for packet writing. The packet writing component of your software is DirectCD. You can format either CDR or RW with DirectCD. You use the CD like a big floppy and drag/paste directly to the drive in Windows Explorer. You can erase or overwrite individual files and folders with packet writing to RW where you can only erase the entire RW disc and start over with mastering software.
The data is not very secure on a packet written RW. If you have a lockup or power failure while the formatted CD is in the burner you will lose your table of contents and have to jump through some hoops to retrieve your data. DirectCD is the only packet writing software that allows you to record to CDR and the data is more secure.
Check the sales and stock up on some good quality cheap CDRs. Whether you have to use top quality brands depends a lot on your burner. I record my music on cheap stuff but store important data on better quality media. Once you do a major backup to several CDs you will find that a single CDR will last a long time for backup using multi-session. I bought a lot of CD-RW blanks when I got my first burner and ended up giving them all away – just kept one for experimenting and troubleshooting. They are a good choice to learn on though.