Hi,
The error is basically saying that the recovery data that your computer is utilizing to reinstall the OS with is corrupted or is missing files. I've seen this many times with customers that uninstalled certain programs that associate with or utilize .dll (system) files. When my customers removed these programs part of the uninstall process will ask them if they are sure if they want to remove the program and that doing so will also remove whatever .dll (system) file the program is using.
I am sure there is more than one solution for this, but what I have done is created a Installation USB using this Microsoft Support page:
https://support.microsoft.com/en-us/help/15088/windows-create-installation-media
If your machine isn't currently working you would need to use a different computer to do so.
Reinstall Windows 8.1 from the media disk you create and it will create a new recovery partition for you in the process. Should fix everything.
**Note**
Doing it this way means you will have to reinstall your manufactures drivers from their support site afterwards. It is a pain, but has always worked for me.
The Drivers: https://www.acer.com/ac/en/US/content/support-product/5687?b=1
(make sure to change the OS from Windows 10 to 8.1)
Good Luck.