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You can read on their blog. They use custom software with Reed-Solomon* erasure coding, similar to RAID but distributed between different disks, servers and racks. Their EC library is on Github (Java). The most enjoyable posts are the ones describing how they built their pods and architecture.

Their systems are fault tolerant... I found more information on their storage architecture here: https://www.backblaze.com/blog/vault-cloud-storage-architect...

[edited to sound less snarky]

I guess the could encrypt the data that ends up on the platters so that it would look like random noise to any attacker recovering the platters from a broken drive that was not physically destroyed?

Of course that has both performance and data corruption scenarios that one needs to take into account.