PalmOS .prc files lend themselves very well to editing.
They're actually a database with tables of many types of resources, including but not limited to: bitmaps, preferences, strong, form definitions, alert definitions, icons, version numbers and executable code.

It's a little like the resource fork approach seen on Classic Macintosh files.
Anyway, depending on what you want to edit you'll have to approach things differently.
Apps to check out are:
- Bird (PalmOS) to change forms, strings, version numbers, etc.
- I've used this to correct typos, fix form layout bugs, translate apps
Yes! You can edit an app right there on the device.
On Windows:
- PRCExplorer for browsing the .prc contents
- I've used this to export graphics
- PRCEdit for decompiling and patching the .prc
- I've used this to hack/patch logic checks
- PRC Tools (also modern version for Mac & Linux)
- palmdeMON (pdemon.zip)
Download the above four here
A bunch more here: https://www.massena.com/darrin/pilot/tanda.htm
An example of doing something with these tools: https://lesliefranke.com/2006/04/updating-zlauncher-themes/
Obviously the majority of this stuff is 15+ years since abandoned. But, there's an active Palm-focused Discord where you can talk to other PalmOS users: https://discord.gg/YddKPpR