The volume \( V \) and surface area \( A \) of a sphere are related to its radius \( r \) by the following formulas:
\[
V = \frac{4}{3} \pi r^3, \quad A = 4 \pi r^2
\]
The ratio of the volumes of two spheres is given by:
\[
\frac{V_1}{V_2} = \left( \frac{r_1}{r_2} \right)^3
\]
Since the ratio of the volumes is \( 1:8 \), we have:
\[
\left( \frac{r_1}{r_2} \right)^3 = \frac{1}{8} \quad \Rightarrow \quad \frac{r_1}{r_2} = \frac{1}{2}
\]
Now, the ratio of the surface areas is:
\[
\frac{A_1}{A_2} = \left( \frac{r_1}{r_2} \right)^2 = \left( \frac{1}{2} \right)^2 = \frac{1}{4}
\]
Thus, the correct answer is \( 1 : 4 \).