There are different types of preamps. Speakers dictate the sound it can reproduce, not the instrument. But speakers that are not designed for very low frequencies can be damaged playing bass through it regardless of any preamp. Basically the speaker cone has to move further (called excursion) the lower the frequency which can tear the cone.
Also the coil on the back of the speaker produces heat when moving and bass heats it to a high temperature which can burn that coil up. Either way, in those instances the speaker would then need to be replaced or repaired.
Using a speaker designed for low (bass) frequencies will not reproduce high frequencies well. That is why a high frequency driver or horn is often added on bass amps but the midrange can suffer, not working as well for guitar.
A preamp is fairly simple. Its basically a first stage amplifier. It takes a low voltage input and amplifies the signal for the next stage. That makes the signal strong enough for the next stage but also makes the (Music) signal louder than the noise level. Everything beyond that are additional features (tone controls, gain/distortion, delay, reverb, etc.) that manufacturers add in.
Using a preamp does not change the amplifier. If you use a bass amp for instance, a guitar preamp does not make that bass amp much more suited to guitar. Using a guitar amp and a bass preamp does not make it much more suited for guitar. Amps are "Voiced" for a particular instrument. The vintage Fender Bassman is one of the few slight exceptions. It has Bass Inputs & Normal (Guitar) inputs which is not just different preamp circuits but the amp circuit as well. While it has a very good clean guitar sound, it is not voiced for a high-gain sound guitar. Putting an overdrive pedal in front of a Bassman is not a common desirable sound. Most modern (since 1970's) amps are voiced for a particular instrument. And lastly note that people like myself that use a vintage bass amp for guitar use a different speaker/cabinet.