Are there any medication to counter the lowered libido from taking finasteride?

Yes. Finasteride does cause sexual dysfunction. If this occurs, then oral medications such as viagra, (sildenafil) cialis, etc. Can be beneficial. If these fail, the penile injections or a vauum erection deveice may be needed.
No. You can talk to your doctor about taking the medication intermittently. The libido will return when you have been off of the drug for a few days.