Will my site get messed up when the wordpress theme updates if I edited the html code in the editor to change footer?

Save the code you edit to your computer. When you update the theme, make the same edits again.

I highly discourage this practice, but it works.

Most “savy” tech dudes use “git”, or other similar versioning software practices to keep from having to do this. Also, as you have stated, a child theme could exist, eliminating most worries of this.

Yes, if you update the code through the editor, it will be removed on update.