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I have used several web based services over the years and never been happy with any of them. (Note: the well recommended ones above were not ones that I used.) I favor removable storage such as an external hard disk or data DVDs.
For the business every month I create data DVDs for one or more clients each and store them in a safe deposit box at the bank. As a general rule I create a full backup to an external hard disk each night. This has worked very well for me.
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