There are the following SharePoint online backup options for reference：
Standard Microsoft 365 Recovery
The standard versioning lets you keep up to 50,000 last versions of most SharePoint items and the post-deletion retention helps you recover data within 93 days after it was deleted.
Compliance Retention(avilable in E3+ plans)
The compliance retention ...
There is no out of the box backup tools for SharePoint Online, just the recycle bins and retention / DLP. There are third party tools out there to do this, some store the data in their cloud, others let you store the data anywhere you want. It all depends on your requirements and data security needs.