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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 Control + Z or click the back arrow in the toolbar, which is found under the Home tab. For redoing an action, users can use Control + Y or click the right arrow icon. The process is straightforward and aims to assist users in efficiently managing their typing actions in Microsoft Word. The tutorial concludes with the presenter looking forward to future tutorials.