You use the built-in feature in Lightroom to make regular backups of your catalog file.
You use third party backup programs (or do it manually, not recommended) to make regular backups of your photos.
All backups MUST go on a different physical disk than the originals (this is not optional).
To restore everything from the backups: copy the photos back to their EXACT original locations; copy the backup of the catalog file to the default location (or any other location), double-click on the file to open it in Lightroom.
Presets: make a copy to create a backup, then to restore copy them in the default location as specified here Where to find preference files for Adobe Photoshop Lightroom 5
Thank you, could you enlighten me on how to relocate the photos. Because it did not work though I followed your instructions.
It is what I said earlier
"copy the photos back to their EXACT original locations".
Did you do this? What happened?
This is one scenario where considering placing ALL your images, Lightroom catalog and associated files onto a dedicated hard drive make so much sense. You can clone that all from drive to drive for multiple backups. You can dedicate a big fast drive to all your images which I suspect will grow over the years. You can hook up that drive to any computer with LR and have access to all your images. One trick that's necessary is to use the "Store Presets with Catalog" preference so those important files are also on this drive. When you back up this drive (clone it), you're backing up the catalog and all your images and the preferences and presets you build in LR! Simple, fast, kind of elegant.