I've used DiskFactory32 since the days of Windows 95/NT4. It was a shareware program written by Mark McGinty, but it unfortunately seems to have disappeared from the net. Download links lead you round in circles, and the domain name now tries to sell you CDs and DVDs. I still have an installer for v3, but I don't know if it's legal to post for download. Shout if you think need it and I'll see what I can do.
DiskFactory was a floppy disk imaging utility which created a .DFI (Disk Factory Image) image file of a floppy disk, or you could directly copy disk-to-disk. It was a true sector-based copy and could successfully read passed bad sectors and even physical damage. The only limitation compared to ISO images was that you could not mount a DFI image.
As suggested by David Schmitt, you could always do it via a virtual machine. Most (all?) virtualization tools will allow you to use an image as a virtual floppy disk. Just archive the floppy image once you've copied to it.
On the other hand, I'd don't see the point of archiving floppy images (except perhaps for nostalgic reasons) since floppy disks themselves are quickly becoming history. See this article on Ars Technica. Surely the contents are sufficient?