Power Cord Question

My system is more on the budget end but some of the components have detachable power cords with two prong connectors/terminals on the rear. I notice that most upgraded power cords have connectors that plug into equipment having three prongs. Can these 3-prong power cords be used to plug into the rear of components having only 2-prong connectors in the rear without hurting anything or degrading the sound? Thanks for your input.