With Windows Vista, the operating system will make “shadow” (that is, backup) copies of files and folders for users who have “System Protection” enabled (the default setting). The feature will be called Previous Versions, and will be accessible via the right-click properties menu as “Restore previous versions.”
I have to admit that this feature could prove extremely useful, considering I have many times deleted or overwrote an all important file. However, as the article points out, this could also prove a huge security risk.