yes any rod can snap, and most of the time when a rod snaps there was some kind of damage to the blank.  either a nick or just a bad spot in the graphite.

i have heard from a rod company (that makes higher end rods) that most of the time when a rod snaps on the hookset it is usually a smaller fish that does it.  he said that a larger fish will load up the rod better on a hard hookset.  and sometimes on a smaller fish when you set the hook, the rod will not load all the way and the tip will "snap" back into place causing the break.  

not saying that you will break a rod on every small fish you catch, but it made sense to me.

They all break.  I was in a tackle shop in Alabama a few weeks ago and saw a stack of Loomis' that were broken at all different areas of the blank.  Its just the price to pay for lighter and more sensitive rods!