A system and method for efficiently creating a backup volume that is also efficient to recover is described. The backup volume may be created with one save set per media record by utilizing record level multiplexing rather than chunk level multiplexing. Through the use of multiple circular buffers, with each buffer associated with a respective save set, save sets written to storage media are contiguous and individual save set chunks are not separated by chunk headers within the respective media record. Recovery is therefore more efficient since the step of reading chunk headers and locating all the chunks for a save set is no longer required.