Why YSK: If you have digital data that is important, (family photos, crypto keys/wallets…). Back it up and prevent permanently losing it.
3 different places its saved to, (iPhone, ICloud, laptop, Facebook, Google, Camera SD, Flash drive…).
2 different media, I would consider iPhone and iCloud the same. Buying two External Drives of the same type and brand too. Why? Consider losing your Apple account or the drive model fails in a year.
1 off site copy. If all your copies are in your house, a flood, fire, tornado, hurricane, EMP… would lose every thing.
0 time to waste. (My own personal add). Do it now. Procrastination is dangerous and is the biggest regret for when things go sideways.
Use a password manager.
I’ve used Bitwarden for years to generate passwords for any account I need to create.
It works well on your phone and has Chrome and Firefox extensions to easily autofill your passwords for login.