[varunsrin]

OP here. Some argue that in-ear earbuds send more high frequency energy directly into the ear than headphones, so the balance of sound is always tilted towards the highs, which over time can cause more high-frequency loss (low frequency loss is fairly uncommon). The difference between headphones and earbuds is likely minor - the volume you set your music to probably has a much greater impact. Get a pair with good isolation or cancellation, so you can keep the music volume lower.

One thing that works really well for preserving your hearing is taking breaks - this is especially true of loud concerts (step out for a bathroom break once an hour), but also holds true if you're going to listen to headphones at high volumes for many hours straight.