You can't beat printing it out for security.
You can - writing it down. There exists malware which can run on printers and provide 3rd parties with details of what you are printing. If that includes your mnemonic phrase or private key, then you can say goodbye to your coins.Recently, someone entered into my house and stole my notebook and my external harddrive... it was very sad, i lost some things but not much , as I had almost everything backed up in cloud services.
You need to use off-site back up. Yes, that could be cloud storage, but frankly, given the alarming regularity which we see cloud storage being hacked, I don't trust them. As Jet Cash has said, physical storage is very cheap. I'd much rather encrypt the data myself, load it on to a USB, and physically store that off site, than I would trust a third party with my data. 
