Backing Up Windows Live Mail


New Email
I've read the thread on backing up Windows Live Mail. But I still don't know if I need a third party app to restore my backup?
I have multiple email accounts in WLM. Gmail, Comcast, and several domain based email acccounts. I need to format and do a fresh install of Windows 7 and my uncertainty about losing my emails and my account settings has everything on hold. It seems multiple folks I have spoken to have multiple ideas on how to backup and restore WLM.
I need to backup and restore my emails, address book, and account settings.
Can someone help. . .in language that even a dummy like I can understand?
Thank you!!