It's also why you need redundancy.
In general, I have 4 copies of any piece of data I care about: the machine, dropbox, backblaze, and a local external hard drive.
You have zero backups if they're untested.
If they're tested and separate by vendor and/or distance, if they're in an accessible medium or format, then they are different.
I lost a decade of my life data when a main hd failed, and a tb backup drive failed at the same time.
Life is lossy
I also keep my important passwords written down on a piece of paper in a fire safe. This includes my borg and tarsnap keys.