To retrieve an archived item, navigate to the project or folder the item was archived in. Click on the filters button, and select the "Archived" filter.
Once you've selected this, you will see "Not Archived" as the default value of that filter. You can select other archive reasons from the list, to display them as well.
Since archived data lives within the project folder in which it was archived, no file context is lost. If you click on the archived file itself, you will be able to access the file with read-only access.
You can also retrieve all your archived data across different projects via search.