You should always keep a back up of your software in case your hard drive crashes, your brother spills soda in the computer, lightning strikes, etc. You don't want to lose all that work. You should consider backing up your data to an external source, such as a CD or DVD, and as often as possible.

The easiest way to back up your data is to make a copy of the Figure Vault directory. Your program is installed here by default:
c:\Program Files\Action Figure Vault\

If you are letting Figure Vault manage your pictures, backing up this directory will back up everything you need to worry about. If you are not letting Figure Vault manage your pictures, you will need to back these up also in addition to the program directory mentioned above.