Yup, I have tinitis permanently. It's not loud or even much of a distraction but that's not the whole story. A constant quiet ringing is nothing compared to the other effects. Here's how it happened:
I went to a concert about 6 years ago and ACTUALLY CHOSE to be near the stage speakers. I wanted to be immersed in the sounds and just let the music take over. Well, after 2-3 hours of that, the show was over and we all headed home. Upon leaving the place, we were all talking and attempting to discuss the show. Guess what? We all had to YELL at each other to communicate at all, and everyone's voices sounded very muffled. Have you ever heard the teacher from the Peanuts cartoon? Everyone sounded EXACTLY LIKE THAT! Finally home, I decided to watch a bit of TV before turning in. All the voices on TV SOUNDED EXACTLY LIKE THE TEACHER IN PEANUTS. I couldn't understand a damn thing. Trying to go to sleep, the ringing in my ears was unbearable. The effect lasted another day or two and lessened over the next few days.
Once the ringing subsided, I noticed a much more disturbing effect. The sound levels I could tolerate became much narrower. The normal quite levels no longer allowed me to distinguish spoken word or get musical details. The louder levels I was always accustomed to using for fun music was no longer bearable - painful in fact. I found that the range between useful and tolerable sound levels was greatly reduced. This effect did diminish somewhat over the course of a few months but my hearing has never recovered. I'm much more sensitive to loud sounds now, and I can no longer distingiush details in quite sounds. In other words, my useful SPL range is narrower than it once was.
Word to the wise: Never go to a concert without at least taking a pair of ear plugs. You can get plugs that will reduce the decibels by 10, 15, 20db or more. The better ones will lessen the SPL across the frequency spectrum pretty evenly, allowing you to listen to the music just as you would at home - at safe levels. If you end up far away from the sound system, fine, you may not need them. A good rule of thumb might be to guage the sound level against the normal speaking voices of your friends. Can you hear and understand you friend talking to you from 3 feet away at their normal speaking voice? If not, you would be wise to pop in some ear plugs.
I can only hope that the above story saves someone's hearing. The bottom line is that permanant damage can occur over a very short period of time. In my case about 3 hours. The louder the sound, the less time it takes to cause permanant damage. While that was a relatively loud concert, I didn't think it was THAT LOUD. I only found out afterward. Don't let that happen to you.