If when you installed Slacko to your hard drive you did a frugal install, just back up your slackosave file to another form of media as a backup. You can copy it to another location or use the excellent backup utility made by 2byte.
It is called Hot Backup for Frugal Pups and can be found at http://www.murga-linux.com/puppy/viewtopic.php?t=49999
It makes its backups in the filename form of [pupsavename.2(3)fs]BAK[date and time]. That is good in that you can selectively restore a backup by date and time by copying it over to your frugal install directory and renaming it can be as simple as adding a 2(3)fs extension to the filename.
As to the problem with Python, it really depends on how much feedback the application comix gives you when run from a terminal in trying to find out why it will not run.
You might try making a system link to python in /usr/bin. Sometimes a program is written to look in a specific directory for supporting files and looks no further.
In that case, it is not Puppy giving the problem, but poor code in the program that does not give the needed feedback for errors.