This is, by far, the simplest way to backup and archive files. Also see ln for symbolic and hard links.
BASIC
cp file backupFile
SHORTHAND - This uses a shell trick to copy file to file-backupcp file{,-backup}
RECURSIVE
cp -r folder destination
PRESERVE - Retain file permissions, attributes, and user and group IDs (I think)
cp -p file file2
VERBOSE
cp -v file file2