The challenge with fixing blown out images is that you cannot recover the hot spots. All those blown-out, pure-white pixels are irretrievable. But there are ways to help repair the images using a combination of the exposure and recovery sliders in ACR and the paint brush, clone brush, patching and content aware fill in Photoshop.
Here’s how I did it:
Hope it helps you recover some great moments that you’d otherwise lose, and if I haven’t convinced you to shoot in RAW yet, come back tomorrow to learn how to fix an underexposed image!