Holy crap, warlord, chill out.
It's not like some weird sorcery we're talking here about overclocking. Yes, overclocking to any extent can be dangerous. Yes, you are at risk when you overclock. No, you won't have much issue as long as you have the situation controlled. There are so many variables that change the particular situation like, how intensive is this particular CPU, how fast are you running it, how fast are you overclocking it, how many cores does it have, what are you using to cool it, and the list goes on and on, and its not as simple as, you clock it too high, and in 3 seconds its busted. As long as you're methodical in your ways and you KNOW what risk you're taking and what you're taking to control that risk, you should be fine.