Storage
Snapshot & Backup
Point-in-time copies of a server or volume you can restore from, the difference being that backups are stored separately for durability.
A snapshot is a point-in-time image of a volume or whole server, taken so you can roll back to that exact state later. A backup is the same idea with an important distinction: it's stored somewhere separate from the original, so it survives the underlying hardware failing. A snapshot sitting on the same infrastructure as the thing it protects is convenient but not truly safe.
Most providers charge a small per-GB fee for snapshot storage, and managed hosts like SiteGround, Kinsta, and Cloudways bundle automatic daily backups as part of the value. That bundling is a real reason to pay their premium, since a good backup you never have to think about is worth a lot the one time you need it.
The habit that actually saves you is testing your restores. A backup that has never been restored is a hope rather than a plan, and the moment you discover it's corrupt is the worst possible moment to find out.