Apparently many Mac applications now allow a "Restore Previous Version" option. Photoshop does not, which is a problem because: 1) Macs make it impossible to locate and restore an overwritten file; and 2) Photoshop is the most likely program where you can accidentally hit "save" and lose 8 hours of work in the blink of an eye.
Actually 8 hours work would not be so bad. You can spend days creating a many layered file in Photoshop and accidentally overwrite it instantly with no way to recover it. But, if you back-up your mac every day you would only lose 10-12 hours work and perhaps some mental health.
If you're running Time Machine, you should be no more than 4 hours away from any file, Photoshop or otherwise. Have you set the Finder Sidebar to show "Recents"? Of course, you can also search by file type (Kind > Other > Photoshop). You can search by Alpha Channel, Color Depth, Color Profile or Pixel Dimensions.
I don't understand the suggestion to search or look in Recents. The file was overwritten. If Apple placed overwritten files in Trash, I could recover it. If Photoshop put overwritten files under "Recover ...," I could recover it. Once overwritten, it will not show up in a Finder search. Am I missing something?
I use a program called Second Copy....which you can setup, almost any way that fits your desire to backup files...a long and easy list of options. Saves to a separate location if desired, and can be set so you never accidentally write over a file because on save, it can save old before it is overwritten. Get old files by opening up the path to the backups it makes. Simple, cheap, easy. And excellent user support....all under your control.