However, you can also secure the encryption with a password not associated with the account. Or even provide your own 448-bit key. If you do either of these options, CrashPlan support will not be able to help you
This setup allows CrashPlan to easily help non-technical home users, while allowing technically savvy users to securely hang themselves with their own encryption.
Furthermore, you can use the encryption key + a custom password, or your own encryption key with a passphrase. In this case, it is encyrpted locally and the key is not sent to Crashplan[1].
[1] http://support.crashplan.com/doku.php/recipe/change_security...
Again, if you're not typing the password in every time, a local compromise is almost certainly game-over. Apple's keychain helps reduce the damage if the data's not actively used but for something like CrashPlan which is always running the attacker is probably going to be lucky.