Digital sensors clip very hard when overexposed. I've read slide film of old was the same.
Unlike film, digital sensors can have extreme amounts of dynamic range though, meaning the shadows can contain a lot of information that would have been lost with film.
Thats for example why the new D810 got this new exposure mode that exposes for the highlights.
What you CAN do is making the exposure more equal. Wont win back information of the highlights, of course, just will make the final picture look more pleasing.