There are several ways of accomplishing this, but I think it's a good idea to take the software directly from the source.
It's also a pretty good idea to have a backup mechanism, and sadly the free version does not play well with hot backups, which are performed while the database is running in full read/write made.
Percona has a wonderful set of tools, and offer a free hot backup solution for MySQL that works awesomely. I'll provide the instructions to install the tool, you can feel free to peruse their docs to implement your own backup strategy :)
More on Percona Xtrabackup here: http://www.percona.com/doc/percona-xtrabackup/2.2/
More on MySQL Community Server here: http://dev.mysql.com/downloads/mysql/
0. Got root/sudo
1. Get and Install the RPM from MySQL/Oracle
rpm -Uvh mysql-community-release-el6-5.noarch.rpm
2. Install MySQL and start / enable service
yum install mysql-community-server
service mysqld start && chkconfig mysqld on
3. Secure MySQL server
4. Install Percona with repos./usr/bin/mysql_secure_installation
rpm -Uvh http://www.percona.com/downloads/XtraBackup/XtraBackup-2.2.9/binary/redhat/6/x86_64/percona-xtrabackup-2.2.9-5067.el6.x86_64.rpmVerify successful install and check version