I have a Robocopy running daily from one drive to another. I have a MyDocuments folder (that contains all my VST plugs/synths) on drive F: and all my Projects/audio on drive S:. My Robocopy copies from S:->F: and also F:->S:. That way if either drive dies, I have the contents of the other. It's at the expense of space, but I have plenty of it on both drives.
If I were really paranoid, I'd copy off to an external location with a system like Crashplan or whatever.
Speaking of, Crashplan has a free backup application that works for local drives and for a small monthly fee ($10 for the business plan), you can back up a single machine with unlimited files. In my case, ifI were really worried about having an off-site copy, I'd just run my Robocopies over a VPN to the office server, where Crashplan is running.
Here's an example of one of the lines from my scheduled .cmd file:
robocopy s:\cake_files f:\audbackup\Cake_Files_Backup *.* /e /COPY:DAT /r:0 /w:0 /LOG:s:\robocake.log
This says to backup all files in the s:\cake_files directory to the f:\audbackup\Cake_Files_Bakup folder, include empty folders, copy all of the security info and such with them, do no read or write retries and write a log file called robocake.log in the root of the s: drive.
Robocopy itself is now included in the Windows 8, otherwise, you may need to download it for your version of Windows.
Hope this helps someone.