In the security industry, there's a somewhat morbid thought exercise called the mud puddle test. In this scenario, assume that you drop your phone - containing your passwords and encrypted data - in a mud puddle, destroying the device. You then slip in the same puddle and hit your head, inducing memory loss. Now, can a company like Apple recover your data for you? In a more secure system, the answer is no.
While most of you probably don't care if a company that you implicitly trust (by way of your patronage) can get to your data, every single one of you needs to consider how you'll recover access to your digital identity after a catastrophic injury like in the first two steps of the mud puddle test. I've seen a stroke victim go through this process and it only made a frustrating life change that much more infuriating.
If you're a Gmail/Google user, you really, really need to enroll in the Inactive Account Manager feature. If your Google account isn't accessed after a definable period of time, one or more other email accounts of people you choose will be sent a notice to allow them to access the account.
If you use a password manager, create a backup of your master password and recovery keys. Print them or put them on a USB drive. CD-ROMs are not recommended as even they degrade with time. Store these backups in a personal safe, a safe deposit box, with your lawyer as a part of your last will and testament, or somewhere similar - maybe even use multiple backup stores. If you don't use a password manager (you probably should, though), back up your passwords to your critical accounts, particularly your primary email address, in the same manner (printing them or on a USB drive).
Lastly, on occasion, repeat this exercise and update your plan as appropriate. Have one of your backup persons changed their contact information? Have you changed one or more critical passwords or issued new recovery keys since your last backup?
Hopefully you won't ever have to rely on these things, but you will thank yourself when and if you do.