I went for an external hard drive, but at the same time I also installed a large 2nd drive in my computer so I could keep them on there & back them up to the external hard drive.
When you say transfer your photos from your laptop, do you mean copy or move? Because if you move them to another storage media without keeping the originals (to free up space or whatever) you aren't actually backing anything up.
I went for a hard drive over dvds as I am pretty lame at organising things – so if I'd have used dvds I would now have a pile of unlabeled dvds on my desk that would have probably been used as drink coasters and therefore next to worthless.
With the hard drive, I just plug it in once a month & do a back up of everything and I don't have to worry about labelling stuff/where I'm gonna store piles of DVDs etc.
You can also back up online to places like smugmug. I keep meaning to look into this. It's something like $20 a yr for a heap of disc space & might be worth using as a further storage area for important bits & pieces.