Is it possible to damage speakers with too much power?

While every passive (unpowered) speaker has a power handling rating, this is a continuous average often referred to as Watts RMS. The speakers can handle larger momentary spikes without damage but may experience some distortion.

If the amplifier or receiver has a power output higher than the speakers, take care not to run it at high volume for extended periods of time as this can cause distortion, clipping, and damage to the drivers.

On the other side, you will want to avoid underpowering your speakers as well. This can cause extra strain on the amplifier or receiver and could trigger a more recent system's protection mode or damage an older system.