siltsunrise - 2015-03-20

Hi, rather noob at all this here. I analyzed some files and got a bunch that already show clipping. These were rarities I only was able to snag off soundcloud, so can only work with what I have.
Peeking at them in audacity confirms the clipping.
Does this mean they have already lost data or is everything still there, and I can just turn the gain down to make them happy again?
Not exactly sure what is going on with "clipping"...if that means the volume is just set too high in the file or if info was actually sliced off irreparably already.
Thanks for any insight!