In Windows 8.1 you can only make a Recovery Drive on a flashdrive/pendrive/thumbdrive. There's no option to use CD's or DVD's. This thread on the Microsoft forums refers to this issue.
If you want to create a Recovery Drive without the Recovery Partition it will fit on a 2 GB flashdrive. For that matter, I've made a Recovery Drive on a 500 MB flashdrive just to see if it will fit. However, if you include the Recovery Partition it comes up to just over 8 GB, that's why you need a 16 GB flashdrive.
Also, I fully agree with SleepyDude. With regular backups you can restore a backup for rather than going back to factory condition.
Edited by Agouti, 16 July 2014 - 03:54 PM.