But, you may not be aware of its Global Undo feature. This feature, accessed using Alt-U, gives you a popup list of previous actions! Clicking on any action reverts you back to that state just before the next action was performed. Very handy!
The depth of the history is controlled by the number of undo steps set in the Preferences.
For further reference, check out the BlenderWiki.
To learn how to access Blender Preferences and save default settings go here.