Prints can fade, and can be damaged by water.
The "actual" memory card can lose bits and render the contents unreadable.
You can pay companies to keep copies for you, and they might keep a couple copies on hard disk (e.g. using a redundant or mirrored disk array such as RAID-1), guarding against Hard Drive failures. They might occasionally pull out a hard drive, and set it aside in case the computer fails (and they can simply re-insert that drive into a new machine - the drive doesn't age as much just sitting around, although it could eventually refuse to start spinning at speed). Occasionally, such a company might back up the disks to tape (e.g. a full backup every month, complementing a daily or weekly incremental backup). Or a backup may be sent to "other" Network Attached Storage or other backup devices. And/or to DVDs, etc.
For personal use, CDs and DVDs would normally be expected to last several years. (Sure, some have been found to only last a few weeks, but that's not the norm.) Keep a couple copies, under "appropriate" environmental conditions, and in as many different formats (printed copy, CD, DVD, etc) as you feel comfortable with. Every several years, refresh your collection with at least a couple new copies (and test the copies as they're made).