Yes, actually your power supply is probably pushing its limits right now, let alone if you overclock.
In related news, Gorman is very general, and also very wrong. However he is correct in that processors do read and write, so jared you're quite misinformed. The processor actually does read and write to and from the harddrive and RAM.
However, you cannot harm your processor by changing the frequency it runs at. The only way overclocking will harm your components are if you increase voltage too much, in which case your processor could overheat and die in that way. Also, if your motherboard is a weak sack of shit, it could also die when you increase vcore. However, I don't know of this happening on minor overclocks. Simply be intelligent and monitor your temperatures, you'll be fine.