You can store most cryptos on Ledger, here's the link to see which cryptos Ledger supports: https://www.ledger.com/supported-crypto-assets/.
And yes, you can back up a ledger. Here's how to back up a Ledger device: https://support.ledger.com/hc/en-us/articles/360033804094-Set-up-a-backup-device
RE: Hot Vs Cold Wallets