It is possible for the liver to regenerate, especially if the damage to the liver is not too severe. However, this is not always the case, and the extent to which the liver can regenerate may depend on the underlying cause of the liver damage. 

There are several treatments that may be helpful in managing chronic liver disease. These may include medications to control symptoms and complications, such as ascites, and lifestyle changes, such as following a healthy diet and avoiding alcohol. In some cases, a liver transplant may be necessary if the liver damage is severe and not reversible. 

You must follow your doctor's recommendations for treatment and to continue to monitor your liver function tests and other symptoms closely. It is also important to avoid activities that could further damage your liver, such as drinking alcohol and taking certain medications that may be harmful to the liver.