Backing up MySQL databases

This is a simple script to back up a MySQL database by creating a text dump of all the tables.  It is based on a script I found on the The PHP Cult.

#!/bin/bash

user=USERNAME;
password=PASSWORD;
tmp=BACKUP_DIRECTORY;
dblist=$tmp/dblist.txt

mkdir $tmp

/usr/bin/mysql -e "show databases" -u $user --password=$password | sed s/^Database//g | sed s/\|//g | sed s/\ //g  > $dblist 

for i in `cat $dblist`
do
  export FILENAME1="$i.sql"
  echo "Backing up $i to $FILENAME1 ...."
  /usr/bin/mysqldump -u $user --opt --password=$password $i > $tmp/$FILENAME1
done