If the Hyperdrive is what many, and Robert, call a Key chain drive, or if it is one of the emory stick type things. They are a stick of memory in a little package that you plug into a USB port. If you have the drivers for it on the computer, it will be seen in Windows Exploere [not IE] as a removeable drive.
Win XP comes with the drivers, but for Win 9x and Win ME you must install drivers for the device.
If it came with a driver floppy or CD just install the drivers. If not, then let us know the name of the mfr of the device. Normally you can then download the drivers from their website.
Very likely it is a USB device, if it is a Fire Wire device, IEEE1394, it is possible that your PC does not have a plug for it.
Re-Reading, your post. Did it work once??? If so and then when you used the recovery CD it went south, you probably only need to reinstall the hyperdrive drivers from the hyperdrive info you downloaded. It wouldn't be on the ME restore CD unless it came with the computer.