Dunno about you, but that story the other day about a man's Motorola Droid being stolen out of his house (while he was in it, no less) left me more than a little paranoid. How would I wipe my phone should it be stolen?
Then came word from Lifehacker today that WaveSecure Beta (one of the Android Developer Challenge 2 winners) is offering free lifetime registration through January, so I've given it a spin. In addition to backing up and restoring your contacts, texts, photos and call logs, you can remotely wipe your phone, lock it down or (from a Web interface), track where the stolen phone has been taken. (You'll have to take my word for it on that one -- not going to show you the map, lol.)
You can get in on the free registration in the Android Market, or at WaveSecure.com.
So, that's one option. Undoubtedly there are more. Tell us your favorite backup and security program, and we'll give the top ones a spin.