Saw this in the razr forum would it apply to the razr m as well.
OK, I am going to assume you can get to the Boot Mode Selection Menu (BMSM = White text on Black background - but of course you can't see that...).
Once on the BMSM;
Press the Volume Down ONCE.
Press the Volume UP ONCE.
Wait at least 35 seconds (mine took 33 seconds for the Android ICON with the RED Triangle and Exclamation point to appear).
Press BOTH Volume Up and Down, then release.
You are now in Recovery.
Press the Volume UP several times (just to make sure you are starting at the top of the list, in case you accidentally hit the Volume Down when pulling up the Recovery screen as I did once).
Now...carefully press the Volume Down TWICE.
Then press the Power Button ONCE.
Next, press the Volume Down SEVEN (7) times (any number other than 7 will result in it going back to the previous menu, and then you'd have to hit Volume Down TWICE again and Power Button ONCE to get back here).
Finally, press the Power Button ONCE and it will do the Factory Data Reset.
Wait about 5 minutes to make sure the reset worked.
Press Power Button ONCE to reboot.
Done.
If you have Clockworkmod Recovery installed, then I believe you can skip to step 7.
If you can't see the screen and need to get to the BMSM from a fully powered on phone, you can;
Press and hold all three buttons, Power, Volume Up and Volume Down for 8-10 seconds (8 seconds worked for me, don't really need Volume Up but I find it's easier to do when making the transition to the next step).
Then briefly release all three, and then press and hold all three again for at least another 5 seconds.
You are now in the BMSM.
Jump to step one in the first section.