Storage devices will fail shortly after start of service, or after many years of service, if they fail. I don't trust new ones until about 90 days of use, and replace every 3 or 4 years. Usual in service failures can be detected and managed by the drive's software, and you will not even notice. In the old days, one would run a scanning program from time to time, which would move data from suspect areas, then mark those areas as bad (not to be used). Likely still the case that all drives come with locked out bad areas, and those will gain over time, but not really affecting use or reliability.
The failures I see are human (hiring someone to "move" to a new computer, and they fail), power outages, and allowing some sort of nefarious item to cause problems. Normal power on and off has some small amount of chance of causing issues.