It doesn't make sense to backup your WordPress blog only to store that backup file on the same website. Because if you lose that website you're also going to lose that backup file. When it comes to backups it does pay to be paranoid, it does pay to assume that anything that can go wrong will. That way if everything does go wrong you can still get your website back. This is why as soon as you make a backup you should save it to your hard drive. But you should also save it to a remote location such...