A speaker fed too much power either smashes its voice coil against the magnet structure or it melts.
Luckily, speakers are usually not driven at full power continuously. Instead they are fed with music or speech that produces full power occasionally. The average power is 1/10th the peak power.
Years ago, RadioShack sold the Minimus 7 speaker. It had a 4" long throw woofer with a low resonant frequency, a pretty big magnet and a real rubber surround (not cheap foam plastic).
It had a 1" dome tweeter.
The enclosure was usually white or black cast aluminum but here is a photo of one with a (fake?) wood enclosure.
The enclosures were sealed (no port).
It was rated at 40W each and produced sounds very well from about 70hz to 20kHz. One pair of speakers costed $30.00 on sale.
I had a pair for 10 years when one woofer burned out. It was stamped, "5W Korea". The replacement woofer was also stamped, "5W" but a different country.
A few years later the other woofer burned out but the replacement was not available. I tried a Chinese woofer that looked the same but it sounded awful.