We should all backup our email system in the unfortunate event that a format or new hard drive installation is necessary in your computer. Here is how you do it for Windows Live Mail:
1. Open Windows Live Mail and click Options
2. Click Mail
3. Click Advanced tab
4. Click Maintenance
5. Click Store Folder
6. Make new folder in C: directory and name it Live Mail (for example), click Change, and browse to C: Directory Live Mail folder
7. Copy and paste or Send to Desktop
Note: this will keep only your messages.
Contacts are stored – C\Users\Username\Contacts
OR
Type Contacts in the Start Menu search box