Entering a turn too fast
There are a lot of things to do when trying to recover:
1) Use the rear brake to tighten up the line a little bit. It feels right to me, but the real racer guys say this is not the answer because if the rear wheel breaks loose the rear end will go wide and cause you to crash.
2) Reduce throttle and use both brakes to slow slightly realizing that most of the traction is being used for turning. It will slow you down, but uses additional traction.
3) Lean to the inside and continue to apply the throttle. Leaning in will cause the bike to straighten up, giving more ground clearance so hard parts don't scrape. It takes lots of courage to go faster when your brain already says you're going too fast.
4) Straighten up, brake in a straight line to scrub off speed, then release the brakes and turn in tighter. Requires some room to run wider than you're already going.
I don't know the right answer, but it looks to me like practice should be done before you have to do it in traffic. I've used all of the above at different times and under different conditions.
Keith Code's book A Twist of the Wrist 2 spends about 1/3 of the book covering this question. He tends to go with #3 above. In short, staying on the throttle ( you don't have to accelerate) and leaning more will help you get through the corner. Backing off the throttle makes the bike do everything wrong. Read the book. It has saved many riders from crashes.