Thanks for the reminder and history note, LVMAN!
An amp or source that is driven to clipping/heavy distortion will damage hearing just as readily as speakers, and for the same reasons. The average power output climbs quickly as the crest factor drops, and harmonics shift energy to higher frequencies where ears are more sensitive (and hearing ability is more critical). So having extra power is still a good thing, *if* you don't abuse it.
However, several studies have shown that loud music can be an addiction like any other. In addition, undistorted music has a higher pain threshold, and as you go deaf you need to raise the level(or sit closer) to compensate. You may find yourself listening for longer or more often, and more exposure time increases hearing loss. Always watch that volume knob and how you listen!