With versioning control, Informatica PowerCenter stores the previous versions of objects inside them. You can open in workspace any of the previous versions. To do that right-click on the object and select Versioning / View History:
Now you can see the history of all versioned changes with their dates, users, and comments. Select the version you want to preview with right-click and choose Open in Workspace:
Now the session is opened in the workspace (notice the (v2) prefix that indicates the version):
You can do that as well with other objects in Workflow Manager and Workflow Designer. Objects from versioning history will have the prefixes with the version number: