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ASR- ASR represents a new approach to backup and recovery. Prior to ASR, after a large-scale failure, you needed to reinstall Windows, configure all physical storage to the original settings, and then perform a complete restore of the data. The process of rebuilding the operating system could be lengthy, and you needed to perform many of these tasks at the local computer. ASR significantly automates this process. In addition to automating the restore of a single system, ASR can be used with Remote Installation Services (RIS) to automate the system state recovery of several systems across the network.
To prepare for ASR recovery, you must run the Automated System Recovery Wizard, which is part of Backup. To access this wizard when you are running Backup in Advanced Mode, click Tools and select ASR Wizard. You can start Backup in Advanced Mode by clearing the Always start in Wizard Mode check box when Backup starts.

ERD-
Emergency Repair Disk, a Windows backup disk created by using the Backup utility. The ERD contains information about the current Windows system settings and can be used to rebuild the system if the file system becomes corrupt or the operating system will not start up. Whenever the Registry is altered - such as adding new software or hardware, installing a service pack or hot fix, making system modifications or adding new users to an account database - a new ERD should ideally be created to return the user to the most recent setup in case the ERD is needed to repair the damaged system. The disk can also be used to restore an old account that has been deleted if there is a copy of the system on an ERD from before the time the account was deleted.
It is important to note that the ERD is not a bootable disk.
This feature of Windows does not back up files or programs and should not be used as a replacement for regularly backing up your system.
Users can follow the Start/Programs/Accessories/System Tools/Backup/Emergency Repair Disk path in Windows in order to create an ERD.

System Restore- System Restore is a component of Microsoft's Windows Me and Windows XP operating systems that allows for the rolling back of system files, registry keys, installed programs, etc., to a previous state in the event of a failure.