If there is an application, does it work like "Time Machine" where it save backups of your computer and if wanted, go back to an earlier time on the computer for example where an virus was not there?

Here is an definition of Time Machine that Apple wrote:

Time Machine is the built-in backup that works with your Mac and an external drive (sold separately) or Time Capsule. Connect the drive, assign it to Time Machine, and start enjoying some peace of mind. Time Machine automatically backs up your entire Mac, including system files, applications, accounts, preferences, music, photos, movies, and documents. But what makes Time Machine different from other backup applications is that it not only keeps a spare copy of every file, it remembers how your system looked on any given day—so you can revisit your Mac as it appeared in the past.