How to retreive an overwritten file ?

[Danny]

I have accidentally overwritten a very important excel
file by saving another file as the same name. How can I
retrieve the original file ?

 

[Bob Phillips]

Danny,

If you don't have a backup, you can't.

 

[Guest]

I thought that's the purpose of
File > Save As > Tools > General Options > Always Create a Backup.

As long as you don't do it twice, an old copy may be there.
Unfortunately, it clutters up the folder.
You'd think they could put the backups in a directory by themselves.
They could even push the backups to trash when replacing them.