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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, you can use the keyboard shortcut Control + Z or click the back arrow located in the toolbar under the Home tab. To redo an action, use Control + Y or click the right arrow icon. The tutorial emphasizes the simplicity of these functions, aiming to assist users in effectively managing their typing actions in Word. The presenter concludes by expressing anticipation for future tutorials.