We aim to review the main characteristics of the magnetic properties and the magnetic domain structure of different types of rapidly quenched alloys. Then, external parameters governing the stability of the microstructure will be considered for, those possibly influencing the relaxation processes. Correspondingly, hydrogen insertion in rapidly quenched alloys having ferromagnetic properties will be discussed as one of the effective tool acting on the microstructure. A comparative analysis between rapidly quenched and other soft magnet alloys exhibiting similar trends will be made based on the nature of alloyed elements, the chemical composition, the atomic size and chemical coordination, the type of structure, etc. We will conclude with a brief description of selected achievements and listing the perspectives.

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1. Magnetocaloric effect in d-metal phosphides and arsenides