It might be more than one step. You need to:
- Change the vectors back to live type
- Style the live type with the correct font, size, leading, etc.
If you're looking for something that does all that in one step, I don't know of it. There are OCR (Optical Character Recognition) programs available. Adobe Acrobat (the full version, but I don't know about Adobe Reader) is one option. Keep in mind that there may be some work to do after the vectors have been changed to type. In the screenshot from InDesign below:
…the black text is placeholder text that I made for this example, I changed the text to outlines and exported as PDF. I then opened the PDF in Acrobat and went to Document>OCR Text Recognition>Recognize Text Using OCR. After the vectors were changed to text, I selected and copied the text, went back to InDesign, made a new text frame below, pasted the text and colored it red (for contrast). You will see that it did a pretty good job of changing the text, but it added paragraph returns at every line break. And if you look at this closeup of part of both texts close to each other:
You can see that the text isn't exactly the same. I think this is may be due to InDesign automatically selecting kerning pairs as you type, which weren't selected in the OCR process. I'm just saying that OCR isn't foolproof.
And after you get your text, you will likely have to style it yourself. If there are programs that will do better, I imagine someone will come along and suggest some.
Simply said no. You can retype it.
BTW Why are you converting text to outlines. There exist not even one reason for it. When you create printable PDFs you can embed the font.