A learning curve can be frustrating, but VP is considerably less so than some other NLEs. Check out the tutorials. Don't give up.
As you are editing, Save Project File AS routinely, giving it a unique # or name, so as not to overwrite prior saves. Using Save Project Files (no AS) will overwrite. From the HOME tab, the AS choice is available by clicking the caret to the right of the Save Project button on the toolbar. That way you're protected, and shouldn't lose anything.
The VPJ file that is created when a project is saved tells the program what to do. When a specific VPJ is double-clicked, the project will be restored to the state it was in when saved.
Splitting can be done in a number of ways. When clicking the top of the red cursor, a scissors appears on the line in some versions. There's also a Split button under the preview window. Click the caret to its right and a drop-down menu offers choices of which track/s to split... 
Note the keyboard shortcuts. For example, the letter K will split all tracks.