The following post was taken from the excellent blog, “Sense and Sensibility” which is updated on a daily basis:
For those of you who have blogs with Blogger there is a way you can protect them by downloading it onto your computer. Then if your blog is deleted, you can start a new blog and upload all the posts and comments from the old one onto the new one and be back in business in a day or less.
First, go to your list of posts. Then on the left side go all the way to the bottom and click on settings. Under settings it should list basic, posts and comments, language and formatting, search preferences, and other. Click on other.
At the top of the page it should say the name of your blog, and underneath it should say “Blog Tools”, and under that it should say “blog tools” again in smaller letters. To the right it should say in blue letters Import blog – Export blog – Delete blog. Click on “Export Blog”.
A box should appear that says Other › Export blog
Export your blog into the Blogger Atom export format. You can do this to move your blog to another blogging service or simply to store your blog on your own hard drive. Don’t worry; your blog will still remain on Blogger until you delete it.
Under the text there should be two buttons. One says close, the other says “Download”. Click download. This will take several minutes depending on the size of your blog. You should find it in the download folder in Windows 8, 7, and XP. Not sure about older Windows OS’s or Apple.
When you start a new blog and you want to upload your old blog follow the previous directions, except when you come to Import – Export – Delete Blog click on Import. A box with the following should appear: Other › Import blog
Import posts and comments from a Blogger export file. Imported posts will be merged with any current posts, sorted by date. Select an exported blog file (.xml)
You will also see two buttons: Import Blog and close. Click Import. This may also take some time depending on the size of your saved blog.
This process will only import your posts and comments. Other pages you may have in your blog should also be saved. You will still have to put in your header again, a template, and all the stuff in your sidebar.
You should do this once a month so that if your blog is deleted again you won’t lose all of your hard work. Each time you download your updated blog, you can delete last month’s download. After all you don’t need to save every single download and take up space in your folder and unnecessarily waste your computer’s memory.