Dear Srikanth,
Hi, First I should say I never have the experience of some users that responded to you, but I thought about this problem. In serious designs I usually use hardware and software back up strategies, for example in one of my designs, system calibrates itself according to voltage of a multi-turn which is turned many times by a motor, there is also an emergency micro switch, if something goes wrong with the multi turn and system tries to go beyond the expected range, emergency micro switch turns on, and microcontroller notices that multi-turn value cann't be trusted and it calibrates itself with much less precision with reference of emergency micro switch.
sometimes it may be useful to save last know good system parameters in an NVRAM for retrieval in faulty conditions. If there were mistakes in my suggestions, I ask more experienced users to correct me, please. Thank you very much.

hope that helps