As shown in my previous reply a password encrypted master key can only be modified using the path of:

OPEN MASTER KEY DECRYPTION BY PASSWORD = 'TestEncryption31' ; -- old db master key

ALTER MASTER KEY

REGENERATE WITH ENCRYPTION BY PASSWORD = 'TestEncryption31TEST'; -- renew db master key

go

If someone drops this master key, it has to be intentionally because the system will state it is in use, so the using certificates will have to be removed !

As shown above, it is fairly easy to modify the master key, so you cannot rely on an known password.

So using BACKUP MASTER KEY will be a life saver

(from BOL)

BACKUP MASTER KEY TO FILE = 'path_to_file'

ENCRYPTION BY PASSWORD = 'password'

This should also be done for all certificates of the db using

(from BOL)

BACKUP CERTIFICATE certname TO FILE = 'path_to_file'

[ WITH PRIVATE KEY

(

FILE = 'path_to_private_key_file' ,

ENCRYPTION BY PASSWORD = 'encryption_password'

[ , DECRYPTION BY PASSWORD = 'decryption_password' ]

)

]

Off course, you can always rely on the regular backup scenarios !

Advise full recovery model with a sequence of full and log backups, so you can perform a PIT (point in time) recovery !

You can make if fool proof, but they will come up with an even better fool !