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In this tutorial by MD Tech, viewers learn how to undo and redo actions in Microsoft Word. To undo an action, users can press Ctrl + Z or click the back arrow located in the toolbar under the Home tab. To redo an action, the command is Ctrl + Y or clicking the right arrow in the toolbar. The tutorial emphasizes the simplicity of these functions, assisting users in efficiently managing their typing actions in Word. The presenter looks forward to sharing more tutorials in the future.