Oracle7 Administrator's Reference for UNIX
NOARCHIVELOG Mode
In NOARCHIVELOG mode, redo log files are overwritten according to a least-recently-used algorithm. If you run your database in NOARCHIVELOG mode, you can protect against media failure by doing regular full, offline backups.
Note that in the event of failure, you will only be able to restore your database up to the time of your last full backup; work done after the backup will have to be re-entered manually.