What could be done if all current Encryption could be broken and cracked?
If all current encryption were suddenly broken, that would be the end of it for encryption as we know it. With one exception - one-time pad. One-time pad is a provably secure encryption that can’t be broken, but it has practical difficulties - it requires keys as long as the data.
There are, however, alternatives to encryption and there is also a saying “If you think encryption will solve your problem, you don’t know what is your problem.”.
If you want to “crack” encrypted data, you need to get the encrypted data first. The most likely defence would in this case be protection of the communication channels - whether by splitting data between 2 or more channels, making access to these communication channels hard, or hiding the fact that there is any data present (e.g., by mixing it up with random noise).
Practically - you can’t do much. Current encryption algorithms are hard-coded to critical business applications and it would be impossible to change much in less than 6–12 months.
We may be forced to think which data is sensitive and important and which data we actually don’t have to send or store in the first place. This is another great way of protecting us from getting hacked.