How do you backup Itunes library on a HDD?

[SaMaster14]

Well, I want to backup my itunes library, but it says that I need to install a blank disk. Is there a way to backup the library to an external harddrive instead?

Thanks

Sam

EDIT:
I tried this... please tell me if this was the correct thing to do.
I basically just went to Finder > Music > iTunes and dragged that whole "iTunes" folder to my external harddrive that was plugged in... and its copying it now

 

[BornAgainMac]

Drag the iTunes library to the external drive. My iTunes Library is too big so I used Carbon Copy Cloner between my external 1.7 TB iTunes Library to another drive. After the initial backup, it copies over the changes.

Edit: There is also Time Machine since you have it on your Mac.

 

[Brinkman]

I'm going to be doing this soon and just want to make sure if I copy everything in Finder > Music > iTunes and paste it back on say a new install of OSX that it will have all my song settings/album art exactly how I had it right?

 

[bo-waleed]

I'm going to be doing this soon and just want to make sure if I copy everything in Finder > Music > iTunes and paste it back on say a new install of OSX that it will have all my song settings/album art exactly how I had it right?

no it will not work.
i did the same as you but when you paste the itunes folder after the clean install it will not appear in the itunes library.

you have to open itunes and choose 'add to library' but it will copy it again.

when you insert an external HDD go to itunes and choose 'backup library to HDD'

 

[Jolly Giant]

I just want to make sure if I copy everything in Finder > Music > iTunes and paste it back on say a new install of OSX that it will have all my song settings/album art exactly how I had it right?

drag the entire iTunes folder from <MacintoshHD>/users/<yourname>/music to an external HD. then drag it from the external to <MacintoshHD>/users/<yourname>/music on your new Mac, replacing the iTunes folder in place there (which will be devoid of content).

or, connect the two Macs with a firewire cable, boot the source Mac in
Target Disk Mode and drag the entire iTunes folder (not just the iTunes music folder) from <MacintoshHD>/users/<yourname>/music on the source to <MacintoshHD>/users/<yourname>/music on the target, replacing the iTunes folder in place there.

if you then launch iTunes, you will be taken to the exact same library you were used to.