The document discusses event sourcing, an approach where all changes to application state are stored as a sequence of events. This allows the state to be reconstructed from the event log and for retroactive changes to adjust the state automatically. Benefits include easier debugging by traveling back in time to exact states, simpler testing without deletes or updates, and backup of events instead of full data dumps. Caveats include a required mindset shift and training along with handling eventual consistency challenges with legacy systems. Real-world considerations include ensuring idempotent projectors and reactors, using aggregate IDs and sequence numbers, and employing SAGAs to handle errors during event application across microservices.