there isn't a best way to recover on stage because it depends on the situation that you're in. all of falco's recovery options have counters to them. double laser from the ledge isnt safe if the enemy is close by because they can easily clip you while you are in the air. ledgehop aerials can be blocked/spaced easily by the enemy and then beat out by another move so therefore committing to that is only beneficial when they aren't expecting an aerial or if you know you can straight up beat an opponent's move with it.
here is a list of falco's options from the ledge
- ledge dash with invincibility - this is really fast and sneaky so it might catch them by surprise. after the waveland you pretty much have all your options back and your are fairly safe. i don't remember if you're invincible for the whole animation, but you are definitely invincible for the majority of it.
- air dodge (to ground or to a side platform) - this can dodge attacks that have a very long lasting animations. it's dangerous in pretty much any other scenario.
- ledge stand - fairly safe if they think you are quickly trying to obtain center stage.
- ledge roll - a mixup to obtain center stage with some invincibility but its easily punishable because falco isn't invincible for the whole animation
- short hop double laser - it's safe for you when they are far from ledge/not expecting it.
- attack getup - this is rarely safe for falco because its easy to react to and punish but if they are committing to a movement that covers another option, you might get away with this.
- jump off ledge and illusion on stage (with various timings) - the timing is might throw them off. and because it's a fast move, it's hard to react to. it can be punished if they just block it, wavedash out of shield and then attack you where you land, or if they throw out a hitbox that stays out for a long time though. basically its good if you are sure it will clip them while they aren't shielding and before they can throw out a hitbox/grab.
- jump off ledge and aerial - explained above
- jump and waveland onto a side platform (depending on the stage) - i find that this recovery works well with some matchups, and for some others it doesn't. a situational mixup because you'll have to deal with the difficulty getting down if they are below you and they react fast enough.