Here's a simple real-life example.
A few years ago, my boss says, "Feature XYZ used to work, and now it doesn't. No one knows what happened. Can you fix it?"
Now I've never worked with feature XYZ before. So fixing it would involve a lot of flailing around trying to figure out what it does.
But we have source control! So I do this:
- Create a test script to test feature XYZ: "Click here, type this, click there, etc."
- Get current version. Build. Test. Feature XYZ is broken.
- Get version from a week ago. Build. Test. Feature XYZ works.
- Get version halfway between those two. Build. Test. Feature XYZ works.
- Get version halfway between previous one, and current one. Build. Test. Feature XYZ is broken.
I kept doing this binary search until eventually I hit the point of change: version 145 (we'll say) had the feature working, but version 146 had it broken. Then I just did a compare between those two versions to see what changed. Turns out our technical lead (sigh) had checked in code that changed functionality, but also introduced a side effect that broke feature XYZ.
So I removed the side effect, tested...and lo and behold, feature XYZ worked again.
Without source control, you can never do this. You'll have to flail around, changing one thing or another, hoping to magically hit on the thing that makes feature XYZ work again.
With source control, you just test your way through the versions, pinpoint the exact code that caused the problem, and fix it.