Well, there are physical “locks” such as this one, for the ilok.
http://www.roklocker.com/Roklocker/index.html
But I think you guys are getting a little carried away … Daniel has stated above that you should be able to transfer your license from your eLicenser stick to your computer (and back), so you shouldn’t have to afraid of losing it. After you have done that, just keep the eLicenser in a safe place … for example, with your car keys / house keys / wallet.
Even if you do lose your eLicenser key, you can always buy another one for about $30. If there were any licenses on it, you’ll be able to sort it out with Steinberg support.