Is it possible to take applications on my iPhone and in iTunes store? ?

My computer crapped on me and I had to reinstall the operating system, thus losing all the information for the applications that I recorded on my phone because I have could not save it first. Is there some kind of method I could use during synchronization that will have all the applications on my phone and all information stored in and save it on iTunes, while iTunes without erasing all my apps and leaving me with nothing? If so, I can also do it for my contacts I sync with Outlook? Currently, when I open Outlook, there is absolutely no contact made, because I could not back that up either. I do not want to hand enter everything manually and re-download all applications simple and remember what I had information stored in them, especially financial applications. Any help would be greatly appreciated. Thank you! BTW, I have the first iPhone generation to firmware 2.2, if that helps.

When you sync, it should automatically transfer your purchases from your iPhone to your computer. It should be the same with your contacts as well.

Wi-Fi Sync for iPhone: Syncing music tracks with no USB cable