Macs today have several macOS Boot Recovery options that are accessed using different key combinations. For example, Command + R starts the Mac in recovery mode and Command + Option + P + R restores the NVRAM ("Non-volatile random access memory" is a random access memory capable of storing information and not losing it when the component power is removed. Source).
On Macs with Apple Silicon, these key combinations will be replaced by a new on-screen Startup Manager interface.
In the new system architecture, users will be able to press and hold the Mac power button to access the new boot screen, which will show several recovery options for reinstalling macOS, as well as options for normal mode startup, shutdown, and reboot ..
Apple is also replacing the destination disk mode, used to transfer data between two Macs, with the new "Mac sharing mode".
Mac sharing mode turns the system into an SMB file sharing server, allowing another Mac with access to the files to read the data. The user must authenticate to access the service.
Additionally, Boot Disk is a new option that allows the user to select different security modes for boot volumes. Total Security, enabled by default, offers the same security as iOS devices and allows users to boot from an external drive without reducing system security.
On the other hand, reduced security offers more flexibility, allowing users to disable System Integrity Protection and use any version of macOS, including those signed by Apple.
Finally, Apple Silicon Macs use different security policies for each operating system installation, while Intel Macs operate with less flexible security policies at the system level. For more details on this and other startup features, you can refer to the lessons available on the Apple Developer website.