Yes. There is an Edit option on each of your reviews and lists. On the web, this option appears in the actions panel on the relevant page. In edit mode, you can make changes to your content and save these to replace the previous version. (Older revisions of reviews and lists are not stored when you make updates, so it is not possible to restore an older version.) Edit mode also provides a Delete option to remove the review or list.
In our apps, the Edit and Delete options are in the actions menu available from the title bar of a review or list.