Do we have more history for cd?

You didn't specify which shell you are using, so let this be excuse to advertise zsh.

Yes, we do have more history for cd, namely cd -2, cd -4 etc. Very convenient is cd -TAB, especially with completion system and colors enabled:

This is what I have in .zshrc:

setopt AUTO_PUSHD                  # pushes the old directory onto the stack
setopt PUSHD_MINUS                 # exchange the meanings of '+' and '-'
setopt CDABLE_VARS                 # expand the expression (allows 'cd -2/tmp')
autoload -U compinit && compinit   # load + start completion
zstyle ':completion:*:directory-stack' list-colors '=(#b) #([0-9]#)*( *)==95=38;5;12'

And the result:

The command you are looking for is pushd and popd.

You could view a practical working example of pushd and popd from here.

mkdir /tmp/dir1
mkdir /tmp/dir2
mkdir /tmp/dir3
mkdir /tmp/dir4

cd /tmp/dir1
pushd .

cd /tmp/dir2
pushd .

cd /tmp/dir3
pushd .

cd /tmp/dir4
pushd .

dirs
/tmp/dir4 /tmp/dir4 /tmp/dir3 /tmp/dir2 /tmp/dir1

To answer your question regarding "more history". No the cd - feature in Bash only supports a single directory that you can "flip" back to. As @Ramesh states in his answer. If you want a longer history of directories you can use pushd and popd to save a directory or return to a previous one.

You can also see the list of what's currently in the stack with the dirs command.

A detailed explanation can be found from this answer titled: How do I use pushd and popd commands?.