A microburst is a powerful, localized downdraft that spreads outward when it reaches the surface. The resulting wind can change rapidly from a strong headwind to a tailwind, producing a significant loss of airspeed and performance close to the ground.
Microbursts are most often associated with thunderstorms, but they can occur with other convective activity as well. They can develop quickly, and the rain shaft or virga associated with them may be the only visible clue.
The most important rule is to avoid a microburst whenever possible. If a microburst or strong wind shear is reported along your departure or approach path, delay or divert to an alternate.
If you're already airborne and encounter wind shear or a sudden loss of performance, follow your aircraft's published wind-shear escape guidance which will be a max performance climb. Don't chase airspeed or altitude with large control inputs. Resist the temptation to change configuration and accept the resulting altitude deviation if necessary.
With microbursts, an ounce of prevention is worth a pound of cure. Recognizing the threat early and deciding to stay away from it is far better than trying to escape one after you've flown into it.