My ESC used to work fine until suddenly I turned it on and its red led is flashing and the BEC outputs only 1.2V. I'm not sure what the issue is since I didn't change any connections.
It's been fine up to now, strange if that is the reason; I only have a 9G servo connected so there isn't much load. I was tiding the project up and the esc turned on on its own and was flashing and no output on BEC
Fine. That's safe regarding voltage. Later reply suggested amps used possibly being too high for the driver.
Test the driver using a light load like a bulb using 1/10th the current of the motor.
Try measuring the BEC voltage between red and black on the receiver connector with nothing at all connected to it (i.e. no receiver or servos). If that is only 1.2V I would think that in "tidying the project up" you accidentally shorted something and damaged the BEC regulator. If it's back to 5V unplugged then you have a low resistance somewhere acting like a short/high load.
Yeah I must've shorting something as there is only 1.2V on the BEC output when the ESC is connected to power only. A bummer, but I have a few of these ESCs laying around.