Does having an FPS above your refresh rate reduce input lag?

So until recently, I was playing overwatch at about 110 FPS, but didn't realize that my screen refresh rate was only 60 Hz. I read somewhere that having too high of an FPS can burn out your graphics card, so I capped my FPS to 60 and increased the graphics settings. But recently I read that having a FPS above your screen refresh rate could reduce input lag. Is it worth having a FPS above your screen refresh rate at the cost of graphics, is there a benefit to this, and can this harm my computer?