Well, yes and no. Yes in that it contains a huge amount of stored energy, which if released quickly enough can have some very unpleasant consequenses. No in that it's actually pretty difficult to get a cylinder to explode.
When I used to do a lot of lab time, I saw many instances of cylinder abuse. The two most memorable incidents resulted in a) a cylinder tumbling down two flights of stairs, and b) a whole bunch of cylinders falling off a lorry. No cylinders exploded on either occasion.
The department's safety officer, who had been doing the same job for some 35 years, and had seen far more accidents than I had, couldn't recall a single cylinder failure in all his time at the unoversity. He said that valve failures were pretty common though.
Given this, I can't think of many things a home user could do to cause a cylinder to blow - except maybe torch it!