Try to restore from backup and replay the binary log or you lose data. Things happen, backup and binary log are the minimum required tools to survive them.
Or use replication i.e. a master and two slave setup. Lets call them A, B and C:
A fails
failover to B
copy data from C to A to recover A without interfering with B
When not involved in failover scenarios, the B and C servers would probably be used for serving queries, to improve performance and get an increased return on the investment.
But replication is not a substitute for backup and binary log. You still need those to recover from DROP TABLE.
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