View Previous Versions of a File
If your file is stored in OneDrive or SharePoint in Microsoft 365, you can go back to a previous version of file. This is incredibly important if a mistake was made, you have issues with malware or a virus, or you just prefer a previous version. This is also important when you're collaborating with others and someone makes changes you didn't want in a file.
The experience for Version History is similar across your apps.