High optical quality (Q) factors are critically important in optical microcavities, where performance in applications spanning nonlinear optics to cavity quantum electrodynamics is determined. Here, a record Q factor of over 1.1 billion is demonstrated for on-chip optical resonators. Using silica whispering-gallery resonators on silicon, Q-factor data is measured over wavelengths spanning the C/L bands (100 nm) and for a range of resonator sizes and mode families. A record low sub-milliwatt parametric oscillation threshold is also measured in 9 GHz free-spectral-range devices. The results show the potential for thermal silica on silicon as a resonator material.