It was developed by Stylus Multimedia and published by Motherlode. Very little is known about the latter: Motherlode, in 1991, published a PC conversion of the game Golden Immortal (which is, by the way, one of the first CD-ROM game ever but also one of the rarest and most obscure video games nowadays) and was located, according to allgame.com, in Las Cruces (New Mexico). Although this information may be accurate, Motherlode, Inc. doesn't exist in the State of New Mexico corporations database.
Despite the great lack of information about Dare, Bluff or Die, there is evidence that it does exist: the (now defunct) website ultradrives.com listed a copy for sale in 2008, for just one dollar (said listing can be accessed today via the Wayback Machine;, and its image has remained in its databank of files). The item remained listed up until mid-to-late 2010, when it was assumingly sold. Additionally, a copy of the game appeared on eBay in 2012, but was either sold or removed (the circumstances of the auction's ending are not made clear). Until another copy of this game shows up for sale and someone is willing to purchase and rip it, this game will continue mystifying seekers of the rare and obscure.
The game was lost until somebody found a copy and released it on September 11, 2015 for Found Media Week. You can download it here.