All of that hypnosis-related 'recovered memory' stuff has been thoroughly discredited:
http://en.wikipedia.org/wiki/Recovered_memory_therapy
These methods became popular in the 80's, but it turns out therapists were simply planting false memories into their patients:
"Several court cases awarded multi-million dollar verdicts against Minnesota psychiatrist Diane Bay Humenansky, who used hypnosis and other suggestive techniques associated with RMT, resulting in accusations by several patients against family members, that were later found to be false."
The same techniques are applied to so-called UFO abduction victims
http://crab.rutgers.edu/~goertzel/UFO.htm
However, in these cases the victims don't have anyone to sue. They just go on with their lives believing that these horrifying memories are events that actually happened to them.
In the case of past-life regression, the memories are just as false but hopefully, less harmful to the victim. At least you get to believe you were Cleopatra in a past life.
Giz

These people that recall a past life are not really doing that. They are seeing a past life of a spirit within themselves.

Ballcrup.

personally speaking, I'd like to try it sometime myself

I have had some experience with regression.
I was trained and certified with the National Guild of Hypnotists.
That is not really something they promote, but I did dabble.
While I absolutely believe in past lives, I would question why you want to get involved in it. In my experience, a lot of people who hire someone to regress them, are taken on flights of fancy, and have little basis to the facts of previous lives. It is just a good way to make money.
You can certainly have access to your past lives. You can do it for free by daily meditation. The Hall of Records contains all of the information about your individual soul. It is located in the causal realm, and you must be a very high mystic to be able to access it. Even with the ability to travel there, you must then pass tests to prove you will not abuse the information.
Daily meditation, and becoming a mystic are the best and most accurate ways to re-experience your past lives.
Be aware that there is much greater knowledge to be had about yourself than what you have been.
Learn what you are.
Best wishes.

"Real" as in you're going to get factual information about an actual past life you lived? It has happened, but from what I've read it's not all that common. I'm talking about cases where they have been able to do historical research to verify the info from regression.
But "real" as in you're going to get a meaningful archetypal narrative that helps you in some way in your *current* life? More likely. 🙂
It doesn't matter so much whether or not the story is factually true; it matters whether the themes of the story can help you get perspective on your current life problems. That's the real value in this kind of work IMO. Say a woman "finds out" in regression that she died drowning in a past life. Does it matter if she really did? No, but if it helps her overcome her fear of water in this life, then the regression was worth it.
And run away from anyone who tries to tell you that you were someone famous. LOL Statistically you probably weren't, and people who try to tell you that you were are most likely looking to make money off your ego.
There are meditations you can do yourself and those are okay, but you're most likely not going to be able to put yourself in a deep hypnotic state by yourself, and I personally wouldn't attempt to do so. If you're going the hypnotic route, I'd advise finding someone who also has solid, verifiable credentials in psychology in addition to their past life regression work. You want to be sure you can trust whoever is going to put you under hypnosis.