Hi and thanks for using 2CarPros.
Yes, if the voltage regulator fails, the alternator can produce high voltage and damage wiring, components. However, the starter itself usually isn't an issue because the circuit to the starter isn't closed until the key is in the start position.
If you feel the alternator may be over charging, here is a simple test. First, check the battery voltage with everything off. It should be right around 12 volts. Start the engine. It should be around 14 volts. If it goes beyond 15, that is a concern.
https://www.2carpros.com/articles/how-to-check-a-car-alternator
With that in mind, here is the real problem. The voltage regulator is an integral component within the power control module (PCM). If the regulator is bad, the PCM needs replaced. This component isn't cheap and unless you have specific equipment, it will need taken to someone to program for your vehicle.
Let me know specifically what has happened. I may be better able to answer your concerns.
Take care,
Joe
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Tuesday, January 15th, 2019 AT 6:44 PM