There is a way to cheat "death." The save file is located in the Steam folder. It's kind of comlicated to explain how to find it, but you can google it by typing "don't starve save game location" in the Search bar and look for one that gives you the best answer. Once you find it you can copy it and change the name of the copied file to something the game won't recognize. For example: savegame1(copy).sav, the game will not see that file and will not delete it. Simple.
Although, you may need to copy the original file again since it auto-saves. I recommend doing that when you are finished playing or if you are worried that your character will die. Also, if you die your original file will be deleted as mentioned above. Just change the name of your copied file by deleting the (copy) part and your game will continue from that point. You will need to backup that file as well, as it will be deleted also if you die and you will be left with no save file. In short, you will need to keep copying the newest save file.