Yes, it can, but always consider that you're applying pressure to steel using only your finger tips.

I think the skin would give out before the steel, unless there's a weak point on the string somewhere (bridge or nut being the most likely places, but anywhere could weaken if you bend strings a lot).

The most I can bend any string is 5 semi-tones (on a good day) and have never had a string break.

[Now I've said that, I'm half expecting every string to snap if I bend it past a semi-tone]