One of the new fea­tures of Mac OS X Lion is Lion Recov­ery

Which includes all the tools you need to rein­stall, restore or repair your Lion instal­la­tion on your Mac.

Check this page: Apple’s sup­port page for Lion Recovery

One item of note is how to rein­stall your iLife appli­ca­tions after a restore of Lion. You can just down­load them from the Mac App Store if Lion came pre-​​installed on your Mac. Here’s how:

  1. After instal­la­tion, start from Lion.
  2. Double-​​click the App Store icon in the dock.
  3. Enter your Apple ID and password.
  4. Click Pur­chases.
  5. If you haven’t pre­vi­ously accepted your bun­dled iLife appli­ca­tions within the Mac App Store, you should see your iLife appli­ca­tions appear in the Accept por­tion of the screen. Click Accept.
  6. You may be asked for your Apple ID and pass­word once again. Your iLife appli­ca­tions now move to the Pur­chased sec­tion. These appli­ca­tions are part of the soft­ware that came with your Lion based com­puter. Your account will not be charged for them. Click Install to com­pete instal­la­tion of your applications.

Slick. No more wor­ry­ing about where your iLife disc is in some drawer you haven’t cleaned out in years.

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