Catalyzes the alpha- and beta-hydroxylation of myristic acid in the presence of hydrogen peroxide. a 1,2-saturated fatty acid + H2O2 = a 2-hydroxy fatty acid + H2O 2,3-saturated fatty acid + H2O2 = 3-hydroxy fatty acid + H2O H2O2 + tetradecanoate = (3R)-hydroxytetradecanoate + H2O H2O2 + tetradecanoate = (2R)-hydroxytetradecanoate + H2O H2O2 + tetradecanoate = (2S)-hydroxytetradecanoate + H2O Belongs to the cytochrome P450 family.