I searched the web thinking this would be a common question, but it appears "history steps" is the wrong search term. At any rate, the default number can get expended very quickly. I experiment a lot because I don't know the product that well and farther back I can undo, the better. I can find the the history control setting in Photoshop, but not Premiere Pro.
So the question is there a setting that can increase this number?
When I test and experiment..I will frequently duplicate the clip ( and maybe whatever effects are on it) in the same sequence..so I can keep the iterations and play around a bit more.
ie. same clip repeatedly worked on.
Backing off 32+ Levels seems time consuming and I cant imagine how you would keep track of or know what was done on each level.
You get a +1 from me on that.
Though they are two very different programs, PS allows one to adjust the Undo/History states, and with intricate operations, that can be a blessing. PrPro is set to 32 states.
This thread dates back to CS6, and some of you may already know the news on this front. For those who didn't get the memo, an option was added in CC to set the number of history steps. The new max is 100. You'll find it by right-clicking the History panel's tab and selecting Settings.