In your opinion, is one back up enough?
No.
The chances of both failing at the same time seems remote to me.
Take it from somebody who learned from experience and lost more than 5 years of work, which still stings over 10 years after fact: it's not. I thought the same thing. "I could make a 4th copy, but 3 backups should be enough, the chance of them failing is remote!".
There is really no such thing as too many backups. A good rule of thumb is to make an amount of backups you think are completely excessive- then make one more after that.
In my case I heavily prioritize backing up actual irreplacable data- Operating Systems and applications can be reinstalled, But the source code to applications I wrote isn't exactly so replacable. (Nowadays I also have that on github but there's always uncommitted stuff I'm working on or using). Other stuff gets backed up but largely for convenience.
Aside from having copies strewn across multiple hard drives, an external drive, as well as a NAS machine I built, I also burn BD-R Discs as well as for smaller amounts of data DVD-R Discs This is particularly useful for stuff that is "done" that I won't be touching regularly, or, to archive stuff for convenience; audio or video files, for example.
I keep one disk image of my boot drive that I refresh on occasion, but mostly because I'm too lazy to actually try to pick through the various user documents and folders to find stuff I want to backup and that doing that I'm certain to miss something.