So as of September, 2013, you can now edit your posts and your comments and see a history of those edits, just in case someone tries to switch the post to something different than the original meaning.
On your post click on the arrow on the upper right corner of your post to get the drop down menu. Select Edit.
You will get the opportunity to make your changes then click Done Editing.
The feature works on almost any Facebook post type, including status updates, links, photos, and videos. We were, however, able to pinpoint some restrictions when it comes to link posts. If you share a link, you cannot edit it.
|Unable to Edit shared link.|
Even with this minor issue, it is nice to see FB make these small changes to make our FB time a little bit better. Now there is no excuse for gramatical errors or typos, right? Who am I kidding. Until I can afford a full-time editor, mistakes will happen. Thanks Facebook for allowing us to clean up after ourselves.