That's right, mate! Madalas na ginagamit ang technique na tinatawag na "mnemonic seed phrase" for backups. Usually ito ay 12-24 random words.
Pero, may iba't ibang ways rin to backup your keys. Depende 'to sa wallet software mo - so best to check out their specific instructions.
Again, keep those backups safe and secure! They're your lifeline if something goes wrong.