CD-ROM, DVD-R: CD-ROM or DVD discs are cheap and reliable. However, they are somewhat limited in capacity, and they start to take up lots of space on your shelves as your archives grow.
External Drives: External hard drives have much greater capacities than CD-ROM and DVD. They also have the advantage of speed, because you don't have to burn the disc. However, there is some question as to how long hard drives last — and if you try to prolong their life by not using them, some hard drives can freeze, taking all your data with them.
Tape-based Backup: Several tape-based archival formats are available. These are extremely reliable, but tape-based systems are expensive and often very slow.
As you can see, there is no perfect archival system. Each has its advantages and disadvantages. You'll probably want to start off burning your files to CD-ROM or DVD-R, and then move up to an external drive or tape-based system when the amount of files (and the success of your podcast) justifies it. Just be sure to archive everything, because you never know what uses you'll have for your programming. When the next media distribution mechanism appears, you'll be ready to take advantage of it.
Finally, it's worth mentioning that no archival storage method is immune to fires, floods, or theft. Consider storing copies of your masters in multiple locations. Storing a portable hard drive at work or in a storage space is simple enough. Online storage solutions also are available for that extra bit of security.
Tip Ironically enough, putting your hard drive in the freezer can "unfreeze" it. The theory is that the lowered temperature shrinks the components and the fluids in the sealed bearings inside the hard drive, thereby unlocking the frozen hard drive. This is intended as a last ditch solution, and if it works for you, get your data off as soon as possible and replace the drive. (Please note that the authors haven't tried this, and we can't be held responsible if something goes horribly wrong, okay?)
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