Speaking of archives of photos (or any valuable data), it's allways a good idea to save them more than once. I'd go for two or more different medias, like CD/DVD and external hard disk.
I already got my first complete failure of (cheap) CDs, and have seen external hdds fail, too. My backups to MO aren't accessible anymore because my only MO drive failed and can't be replaced at a reasonable price.
(Those drives actually were cheaper when I bought mine.)
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