Sourdough is a key component in traditional and artisanal bread making. It imparts unique flavors and textures to bread, which are highly sought after by consumers. The use of sourdoughs to prepare bakery products has been researched for more than 30 years, and accumulated research shows the performance of sourdoughs as an alternative to improve the organoleptic characteristics of bread and its shelf life. The purpose of this review is to present an overview of the research carried out on the use of sourdoughs from lactic acid bacteria and their benefits in the quality characteristics of bread, as well as to present relevant and recent information on the use of sourdoughs and their aqueous extracts for the preservation of bakery products. Also, the advances in the identification of antifungal compounds have been revised. In general, it has been shown that incorporating sourdoughs into the bread formulation positively impacts the product’s flavor and helps slow down the bread’s aging process and spoilage. Also, it has been observed that the bioactive compounds formed by lactic acid bacteria (LAB) during sourdough fermentation and their extracts have an antimicrobial, especially antifungal, capacity that significantly helps increase bread’s shelf life. Studying sourdough as part of fermentation processes and product development is essential to improve bread production’s quality, diversity, and sustainability, and to advance our understanding of the science behind this food tradition.