Definitely buying some plugs. It really doesn't take much to cause damage.
I've got a few different types...though TBH, while they can certainly cut out the SPLs...most of them instantly suck AFA the tone goes.
I think you have to get into the IEMs that go for several hundred dollars and more...the custom molded and all that...before you can get decent SPL protection while retaining good sound quality.
I mean...if you're just wanting to take some SPLs out for like a concert...that's not a big deal, since the tone quality won't be as critical.
Even if you're doing gigs that are fairly loud, you could probably get use to the shit tone you get with most ear plugs...but if you want natural sound with SPL protection...dig deep $$$.
So I've tried a few of the real basic foam/silicone "plugs". I always wear them when doing yard work and running the lawnmower or chainsaw. That's about all they're good for. They totally suck for music.
I've also tried the Alpine MusicSafe Pro plugs, which come with three different SPL attenuation filter. They were just OK, but even with the lightest filter, when simply playing my guitar in my studio and wanting to knock down some SPLs...they noticeably mess with the tone, but the lightest one was bearable if you're willing to accept the tone loss.
I also have a pair of the Earasers, which offer lighter and more balanced attenuation, so they don't roll off the tone hard...it's still pretty balanced, just quieter...but certainly not like the natural sound in a studio setting. They also, IMO fit real comfortably, unlike the typical plug types. They are shaped like the ear canal, and you just have to decide on the size, since they come in 3-4 sizes. You can use your pinky to get an approximate size measurement.
I think for a moderate live gig, these would be pretty good at shaving off the SPLs a bit, and with the louder gig levels, the sound would still be pretty acceptable.
If/when I get to a more regular live gig situation...I think I would probably look toward a custom set of either just passive ones for attenuation, or actual IEMs, but then you need to tie them into your gig monitoring system and all that, so it's more involved, but the best approach for both attenuation and good sound.
That said...I know that some people who use IEM for loud gigs can just as easily get ear damage from them if they jack up the monitoring level of the IEMs to overcome the loud stage levels...so it's not an guaranteed solution.
In the studio...I have no need to IEMs or attenuation when mixing, since I keep things in the 80-85 dB SPL range. For tracking though, when recording guitars, I'm using headphones...or just for some loud jamming, I would go with the Earasers.