Most of the important content and other data on a WordPress site is stored in a database on the host server. This includes your site settings, post and page content and comments. It also includes any settings for themes and plugins that may have been added to your site. This data can easily be backed up manually from within the Tools section of the WordPress Dashboard itself.
Not included in the data stored in this fashion are the WordPress core files, theme files, plugin files and image uploads. These latter items will need to be backed up separately and, in fact, may simply be saved at the time of first use.
We backup the entire site on a regular schedule but you should not rely on this site backup for securing your important site content, images, or other files. We do keep copies of all themes we use on any MSMOsites blogs, websites, or web stores. We will usually be able to restore your theme files for you should they be lost.

You should keep your own backup copies of all uploaded images and other files added to your site. You should also do periodic extracts of the content and setting data using the Export function of the Tools menu.
Set up a program of regular backups, at least as often as you add significant amounts of new content to your site, and store the backup files in a safe place. Burning them to a CD, if you have the facility, is a good idea.
Should the need arise you will be able to Import your content and settings from your most recent backup file using that function on the same menu.