How to back up iTunes purchase
Undoubtedly, iTunes is the best music management tool on the earth. Many people use it to mangement their songs and movies. As you grow your iTunes library, you’ll want to back up your purchased music and videos. Backing up in iTunes is just like burning an audio CD, but you’ll change your preferences to burn a data CD instead of an audio CD. And if your songs and video won’t fit on one CD, iTunes will simply prompt you to insert additional blank CDs or DVDs as needed.
If you’ve only used one computer to buy music, you can use the Purchased playlist in your Source list to find your purchased music. But if you’ve used a few different computers to buy music, you can create a Smart Playlist that will look for your purchased music no matter which computer you used.

