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To copy all the items in your iTunes library (including the iTunes Library file that holds all your playlists, playcounts, ratings, and other data) to your external hard drive, follow these steps:
Quit iTunes.
Locate your external hard drive.
Mac: On the desktop or Finder sidebar.
Windows: In My Computer
Locate your iTunes folder:
By default, the iTunes folder is located in:
Mac OS X: /Users/username/Music
Windows XP: \Documents and Settings\username\My Documents\My Music\
Windows Vista or Windows 7:\Users\username\My Music\
If the iTunes folder is not in the default location listed above then you can find where the iTunes folder is located by following these instructions:
Open your iTunes Preferences:
Mac: Choose iTunes > Preferences.
Windows: Choose Edit > Preferences.
Click Advanced.
The location of your iTunes folder will be listed in iTunes Media folder location box, as pictured below.
Drag the iTunes folder to your external hard drive. This can take a while if you have a lot of items.
When the transfer is complete, your iTunes Library will have been successfully copied to your external hard drive.