I got into a battle at way too low of a level, am I just done exploring forever now? Is there no way to escape??

You can run away from most battles, but not all. If you are in a battle that you cannot run away from, your only option would be to just simply lose the battle.

You will then just have to revive your pets afterwards or just wait a bit (like 30 minutes) for them to heal up on their own.

you can just lose the fight to get out of it?

What fight is this? A plot-fight that you need to do?

If it is a mandatory fight and you think you're too low of a level for it you can grind in a previous zone

I looked at the pets on your party, and you have an air attacker, but the second pet, Basenji, has no assigned element or proficiency. I'd suggest water, earth, shadow, or light (rather than fire or a second air), since those four can run tank build in slot 1 to compliment and protect Savadori.
The equipment could also use some updating- do you know how the elements work/what stats work best for what?