Each commit has a link to its parent, and represents the tip of a linked list. .git/objects is a heap of all commits (and other objects), and .git/refs contains a list commit IDs that define each head (e.g. master). git rebase will often introduce new versions of a commit to the heap and update the heads to reference new histories, but the old commits stick around and can be accessed through the reflog - with their full original history intact.