Someone once said that the difference between an amateur and a pro is that a pro has a backup, and nothing could be more true. Even though you may have given the client a final signed-off master, it's always a good idea to archive the project in case you have to do some fixes, or a piece of it's needed in the future. While normal backups are done to hard drives, flash drives, or in the cloud, long-term archiving requires a different strategy. Essentially, there are two different backups that are required, the master, which is a copy of all the master formats that were requested for the project, including CD, MP3, DDP, or high-res files.
The master session contains the DAW session, as well as all the original source files. Usually the archive will live locally on a hard drive or optical disk in your files, Be sure to keep a copy off-site for true file security.
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