Redis is a popular choice for an in-memory data structure store that also persists to disk, and it can be used as a database, cache, and message broker. To perform a backup of your Redis instance, you need to start a local instance on your machine, connect to it using the CLI, set the master password, start replication from the local instance, check the replication status, save locally with `BGSAVE`, and finally shut down the instance by setting `SLAVEOF NO ONE`. You can retrieve backups from the dashboard in the future, according to Railway's plans.