a live cd or dvd generally will not manipulate your data. it may provide access to it, but does not have to. live distros were mainly used as installation mediums and have since become their own environments, do to the expanded storage capacity of read-only devices (install floppies, cds, dvds). i like to think of live distros as a means of demo-ing software before i install (or choose not to install) it.
the boot options the you see are very common among live distros, and many sites will offer insight as to what they mean, but in summary, the "suggested" boot option is generally the first listed option, and often will automatically boot after a time out. i always suggest using the default option for a first boot unless you know some secret about your hardware right up front. as you progress further down the boot list, you will find "safer" boot environments, which does not mean that the others put you at risk, but that the safer ones have a higher chance of being compatible with finicky hardware. if the default fails for you, reboot and try the failsafe. if the failsafe does not boot successfully, i suggest studying the exact choices as they are written out in the menu (i do not know the menu, so i can not help you on this).
let us know if you have success