Hi Carl,
there’s no prompt or warning before deleting something, but there are of course undo and redo buttons. Look for the two buttons right between the File, Track, Edit, View menu buttons and the tool selection buttons! They bear the usual left/right pointing arrow icons for undo/redo that you see in other programs.
As soon as you move your mouse cursor on them, they’ll show a popup describing the action you’ll undo or redo if you click them. Right-click the buttons to open a list of your steps (with timestamps), should you want to go back or forth multiple steps at once.
Remember there are separate undo/redo buttons for the arrangement and the different editors (audio, MIDI, automation) – they all keep their own history, separate from each other.