I have Sentry Fire Safe box, bit bigger than what Mark have but this box is 2 hours fire rating and can hold both computer media (CD, HD and such) and photo/paper as well. As you know that it take about 30 to 45 minutes to put out the HOUSE fire. When I say "HOUSE" , time to put out the fire tend to be shorter than APT or row/condo house.
As far as backup goes, I recommend CrashPlan, this have greater flexibility and unlimited storage and not bad of a price. it have both individual and family plan.