Is there a term or word for solving a problem that one created oneself?
Solution 1:
One word that comes to mind is undo, which carries the meaning of rolling back to a point before an action was carried out. To cover the whole process, though, you would still need to use another word like fault-correction.
There is also the more general term, process, which admittedly does not specifically indicate that there was a problem. However, your general situation is covered by this word.
It depends a little on how you plan to use the term.
Solution 2:
A word that may work for you is to atone.
verb (used without object), atoned, atoning.
- to make amends or reparation, as for an offense or a crime, or for an offender (usually followed by for): to atone for one's sins.
- to make up, as for errors or deficiencies (usually followed by for): to atone for one's failings.
http://dictionary.reference.com/browse/atone