Probably the two main definitions of 'failsafe', as already hinted on, are -
It doesn't go out of control if it looses the radio signal, (but you may never see the plane again as it flies away).
It goes into a semi-controlled crash nearby, (so that there is a good chance of you will retrieving the bits).
Some model have an 'Anti Crash Technology', (ACT), system fitted, though many will recommend it is turned off, as it can cause crashes, (allegedly

).
The best 'failsafe', (but you can never stop crashes), is to always fly when the weather is more suitable, always try to fly up-wind, and practice, practice, practice.
Having a model crash just has to be an accepted possible outcome from the hobby, or as some of us more experienced fliers would put it,......'a golden opportunity to build/buy a another model'.