UndoClose is a free program that remembers all recently closed folders and applications, so that you can restore them in the same sequence in which they were closed using two hotkeys. In short, it enables you to open the last closed folder(s) and application(s) just like the way Firefox, Google Chrome and other browsers let you open the recently closed tab(s).
UndoClose supports two hotkey combinations; Ctrl+Shift+F and Ctrl+Shift+A, to open last closed folder (in Windows Explorer) and application, respectively. The hotkeys can be used multiple times. For example, if you close VLC Player, Notepad and iTunes, press Ctrl+Shift+A hotkey three times to launch VLC Player, Notepad and iTunes again.
UndoClose sits in the system tray after being launched and silently starts monitoring all folders and applications that are closed. It then helps you restore them using the hotkeys.