P2V

http://conshell.net/wiki/index.php/Linux_P2V

Backup

http://www.mondorescue.org/

Mondo Rescue is a GPL disaster recovery solution. It supports Linux (i386, x86_64, ia64) and FreeBSD (i386). It's packaged for multiple distributions (RedHat, RHEL, SuSE, SLES, Mandriva, Debian, Gentoo).

It supports tapes, disks, network and CD/DVD as backup media, multiple filesystems, LVM, software and hardware Raid.

You need it to be safe.