I should amend my answer: Clipping sounds like s**t if there's enough of it to hear. But, as Gs rightly points out, the occasional clipped peak isn't a problem at all. One study I know of found that clipping becomes audible if it occurs more than 1 percent of the time.
I'll stick to the second part of my answer, though: Clipping doesn't damage speakers; juice damages speakers.
I'll stick to the second part of my answer, though: Clipping doesn't damage speakers; juice damages speakers.