Is it acceptable to force users to delete and recreate data they entered incorrectly or should they be provided with a way to edit every instance of that particular data?

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Use Case:

The wireframe below illustrates the workflow we are currently discussing internally. Because of technical requirements users must enter a modal to enter information and on completion they are sent back to the page with the new data appearing at the bottom of the table. There is no case where the user would have to fill out more than three fields, and in many cased users would only have to fill out the first two.

^{download bmml source – Wireframes created with Balsamiq Mockups}