I have archived an article. Users are not able to search for it directly in global search as it gives them a anon matches found message. However, for the users who accessed it earlier it shows up in recent items and they are able to access it. I am trying to understand if it is OOB functionality of salesforce and/or it can be modified. Thanks in advance.
This is standard behavior. The recent items list is an MRU (most recently used) cache. It doesn't get updated automatically based on access or permissions changes. So even if the article is archived or the user loses access, it will continue show in their recent items list until they open enough other records to cause it to drop off their list.
There is a related feature request here https://success.salesforce.com/ideaview?id=08730000000BpzKAAS