There are two ways to restore a photograph: physical restoration of the original or digitally reproducing the image.
Photo restoration using conventional physical methods means all work is done directly on the original, so there is considerable risk of damage and a limit to the amount of improvement that is possible.
Digital restoration of an image doesn't require any physical manipulation of the original photograph except making a high-quality digital copy using a scanner or digital camera. All restoration work is done on a computer and it usually produces much greater improvement than physical restoration. If restoring the image and not the original photograph is most important, digital restoration is safer, produces the best results, and allows exact duplication. A digital file can be stored in multiple places, printed multiple times, transmitted electronically, and has (in theory) unlimited life.