And I would say not just output transistors but any transistors. If an amp drifts out of spec, or if it is a Class A or AB amp and that constantly generates a lot of heat, the transistors can get exhausted and not perform their switching duties, fail and cause leakages or shortages that can send the amp to protection more or fry them.
Tantalum capacitors almost easily fail and can melt or bubble up with too much heat over time. Electrolytic capacitors typically don’t leak, but they just don’t store and deliver to their spec as they dry up, which starts to introduce distortion and/or thinness to the sound.
Transformers are generally incredibly durable and very difficult to ruin unless too much excess current fries a fuse that is built into it. And circuit boards are generally fine unless something causes a short to fry it, typically from one of the electrical components as described above.