However, some gentle limiting on a guitar or vocal recording can help avoid the signal going “into the red” and clipping. Although it’s best to avoid it in the first place, this is a nice second layer of safety.
The reason is that the loss in dynamics resulting from the compression will be printed to audio and can never be recovered. Heavy compression should generally be avoided when recording (unless you know what you’re doing). If you are experimenting with “breaking” sounds with multiple layers of distortion and EQ’ing, a limiter can come in handy to keep the levels down and discover quirky artifacts.