Stands for CD rewritable, the latest incarnation of CD writing technology. CDRW is pretty much like regular WORM (see WFTD archive WORM) CD writers except the media can be overwritten with new data.
CD-RW technology supports a variety of recording modes (disc at once, track at once, multisession, linked multisession, and packet writing). It also supports disc formats such as Red Book (CD audio), Yellow Book (CD-ROM, CD-XA), Green Book (CD-i), Blue Book (enhanced CD, CD Extra), White Book (Video CD), Orange Book Parts II and III (CD-RW), CD-ROM XA (Photo CD), mixed mode, hybrid, and bootable discs.