Yes USBs can die, so having a backup is a really good idea. TBH, I'm not closely involved with the BitKey development so I'm not totally up to speed, but I do know that some have been working on including printer drivers so that users can print out a paper wallet as a backup.
But yes you can just "clone" the USB stick. I'm a Linux commandline user so I'd just use dd to copy from one USB to another, and/or to a file. Mac OSX has dd too I think? If you are on Windows, I just did a quick google and found a SuperUser Q&A which has some good sounds suggestions. I recall using Rufus years ago (when I was a Windows user) and it was quite good. According to one of the answers, you can choose 'DD Image' for 'Create bootable disk using' [your USB].
Yes USBs can die
But yes you can just "clone" the USB stick. I'm a Linux commandline user so I'd just use dd to copy from one USB to another, and/or to a file. Mac OSX has dd too I think? If you are on Windows, I just did a quick google and found a SuperUser Q&A which has some good sounds suggestions. I recall using Rufus years ago (when I was a Windows user) and it was quite good. According to one of the answers, you can choose 'DD Image' for 'Create bootable disk using' [your USB].