are there 2 ways to reset the phone?

I researched the internet and found the below, however, I am VERY afraid as to what "Erase All Content and Settings" means exactly. Does anyone know? I want to keep my photos and videos!!!

Thank you in advance.

How to perform a factory reset on your iPhone X

1. On your iPhone X, open the Settings app.
2. Tap General > Reset > Erase All Content and Settings.
3. Follow the prompts until you see the Apple logo and progress bar.
4. When it finishes, your iPhone will reboot and start on the Setup Assistant.