mysqldump
This will dump your database to an ascii file, complete with the insert statement to recreate it.
A note: The default behavior for mysqldump is to attempt to read the entire database into memory before it writes it out to file ... much faster if you have the ram. Did'nt work to well trying to dump a 1.5 GB database on a machine with only 1GB ram! Take a look at the options if this will be an issue for you.