If you want to backup all your expensive Blu Ray disks, there are two tools, first MakeMKV which takes the raw video and audio down and then Handbrake to compress the Blu Ray a bit more for convenience without (too much) loss in quality.
How to Rip a Blu-ray Disc With MakeMKV | PCWorld
If you are looking to make digital backups of your favorite Blu-ray movies, you can find few better tools than MakeMKV, a freeware video transcoder that is quick and easy to use. It is a straight rip of the actual Blu Ray content without compressions, so a typical movie is going to be 35GB or so for a two hour movie. If you are a purist, you should leave the 35GB where it is in archival quality and then maybe then use Handbrake to get it to manageable size.
After that, I would leave it in 1080p and also select pass-thru so you can get your highquality DTS-HD or whatever. Then the hard part is to set the quality of the encode. This part is pretty open to experimentation, but it's pretty widely accepted that doing a constant quality encode is the best option, so select that. I and many others have found that an RF of 18 is the "sweet spot" for Blu-Rays. This setting will give you a file much smaller than your original MKV (around 15% the size, I've found), but with quality nearly indiscernible to your eyes from the original. If you have particularly sensitive eyes, you may want it closer to 16