There are four levels of back up.
1. On line
2. Near off line
3. Remote off line
4. Archival
On line is a RAID 1 type arraingement ( or simply using Carbon Copy Cloner to dupe to a second connected drive).
Near on line is copying a drive to a removable media (Hard Drive, Blu-Ray, Digital Tape, etc) and storing it on site.
Remote off line can be simply creating a duplicate set of your near on line material and storing it off site. Or, it can be using some sort of cloud storage system
Archival is putting your material on a media (or in a storage depot) that will last 30 or more years. This is NOT a hard drive nor any garden variety optical media.
The operating principle for data storage is simple - you need at least two copies (three is better) stored in different locations.
This is my set up -
I purchased two Voyager Q docks and enough hard drives to keep two complete backup copies of everything - 1 near on line and 1 off line (stored in an offsite secure place). These backups include all current projects on the computer plus years of previous work that I do not regularly reuse. Currently each backup set is ~ 8 TB. What this gives me is three copies of current projects and two copies of finished projects.
One variation on this strategy is get something like the Promise Pegasis RAID or Caldigit HDOne and set it up as a RAID 5. This will give data integrity for the on-line and reduces the need for a set of on site storage as long as your needs can be accommodated by its storage capacity. Once you exceed it, you're back in the same position of needing a backup set on site as well as the off site stuff.
You want to be in the position of - if the computer fries the drives, you loose no more than a day's work. If the studio burns, you have a backup off site and loose no more than a week's work. If a nuclear bomb goes off, it won't matter where anything is stored as it's highly unlikely you'll be around anyway.
Cheers,
x
edit: keep in mind, none of this will protect you from corrupted files if you copy the corrupted file to your backup ...