Hi Sheila,
First question:
You can use 'Cancel changes’ action of a button to cancel any changes you made in a form, if these changes are not yet committed.
If you are looking for a way to revert an executed Microflow, there isn't a default way to do this. An executed Microflow is done and does not have a history or something to undo this Microflow. You can try to create a Microflow that works the opposite of the Microflow you want to revert.
Second question:
If the object you changed is not yet committed, you can retrieve the same object from the database and compare the 2 object to look for any changes.
Hope this helps!