Backing up your database is done automatically with a plugin we provide called BackUpWordpress. We’ve configured yours to backup daily and keep the last 10 days of backups available.
Go to “Tools-Backups” if you want to download a copy of your database for safe keeping. It’s a snapshot in time so if you ever need to use that database you will have lost anything you’ve done after that snapshot. Depending on how much you are posting to you site you may want to download a database backup every week, once a month, or maybe every year.
If your WordPress install is compromised and you’re able to access your site through FTP, the backups are stored in WordPress at /wp-content/backups.