Yes, you CAN have your heart rate go too high - for you. Like someone else said, it is relative. Best way to calculate your maximum heart rate is to take your pulse for at least one minute a day BEFORE getting out of bed for three days. It should give you a pretty good average of your "resting" heart rate or your baseline.
When ppl say 120 or 140%, what they mean is a calculation of your resting heart rate plus your percentage calculation. RHR x 0.2 = 20% of your RHR. Add the number for the 20% to your resting heart rate. For instance, if your RHR is 75:
75 x 0.20= 15, 75 + 15 = 90 (100% + 20%)
Calculate your rates for 30 & 40%. That will give you your target "zone."
If you are over 35, subtract 3; over 45 subtract 4; over 50 subtract 5 for your "zone" calculations. Ie: 90-3=87, so if you are over 35 that would be your personal heart rate.
Now, there isn't a heart rate that is going to cause cardiac shutdown or make your heart explode. However, once you go over your maximum heart rate (150%), you are no longer doing aerobic exercise because your heart can't push out enough oxygenated blood - so you go into anaerobic metabolism. If you are doing cardio workout, going into anaerobic and staying there can be a very, very bad thing. So find your zone and stay in it.
As your endurance increases and your heart muscle and arteries become stronger (and younger), your RHR will drop. This is a good thing.
Some signs that your have been working your heart too hard for too long:
Bradycardia w/ rapid tachycardic response - meaning your HR goes down so far the electrical system in your heart gets shorted and starts to make extra beats. Tachycardia is a deadly arrhythmia. This will not be noticable unless you are resting, not while you are exercising or immediately after. This is actually called "Athletic Cardiomyopathy." But you have to have worked over your max heart rate for many years before it really puts you down.
Hope this helps and doesn't confuse you. I'm an RN, so I call on a different knowledge base than a trainer, so they may have different, and better, information. And if I got anything wrong, then someone is more than welcome to tell me so - I take criticism well.
Layni (RN)