Hi
With version 3.24 (and earlier 3.xx version) you create your text as an image. You are free to place that image on any of the video tracks, but being text that you want to overlay it is usually placed on video track 2 above the clip which will act as a background.
You can expand the track by clicking the right hand icon of the three seen to the left of the track.
If you do not want the text overlay once you have actually dropped it onto the video track, you only have to right click it on the track (which will select it) and from the menu that appears select "Delete selected clip(s)". The overlay clip will disappear.
It will remain in the image bin of the media list. If you left click it (or right click it) here you can edit the text if you wish to. This can also be done if the text clip is on the video track.
Nat