The external hard drive approach is the simplest way to go. For under $100 you can usually get a 250gb USB drive if you watch the sales and ones with rebates. Then you just plug it in, and copy the folder over to it.
But if you want to backup to CD or DVD, you can use something like Norton Ghost which will divide it up into small sections and then you burn a CD or DVD of each, but it is going to take a long time.
You can also use something like NERO for backing up the entire folder to however many CDs or DVDs it will take. But it will take a long time for CD's and you'll have to keep coming back to put the next CD in and it is usually not wise to use your computer while burning CDs or DVDs. Also when backing up and spanning CD's you will often not be able to just go and recover 1 file or folder, but will have to restore the whole thing.
If you use the external hard drive approach, you'll have a backup that you can use anytime on any computer with USB and you can grab any file off that you want.
If you have a Fry's close at hand, they just had as of yesterday a 160GB external harddrive for $49 after a rebate.
Cheers,
Roger
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