Developer Red Squirrel has recently been at it again with a new homebrew plugin for the PlayStation Portable. The new plugin, entitled "VSH Recovery Launcher", allows you to run the Recovery Menu from your handheld's XMB with the single press of a button (the L button to be exact).
The plugin launches the original Recovery Menu taken from the Flash0:/VSH/MODULE/recovery.prx directory, so it doesn't end up tampering with anything outside of your PSP's normal functions. Much like any plugin, you still have to enable it from the Recovery Menu through normal means before it can work.
VSH Recovery Launcher v0.1 still has a couple of notable bugs according to the developer. Upon launching the Recovery Menu, both the USB and formatting functions currently don't work. Also, using the "Run program at..." and "Exit" options will most likely freeze up your PSP, so try and avoid using both as well.
For more information on how to install and use the different functions of the plugin, you can always refer to the Readme.txt included in the file bundle