Yes and no. ESP8266 would typically survive 5V applied on any pin, and sometimes even sort-of work with 5V power applied (although with much higher power consumption and no WiFI).
But there is a catch. Pretty much all CMOS chips (ESP8266 inclided) have body diodes from each IO pin to power/ground. This means - you can't have voltage higher than VCC+0.6v or lower than GND-0.6v on any pin. So what happens when you have ESP8266 powered from 3.3v and connected to 5V I/O is - ESP will get (partially) powered via I/O pin. Depending on what 5V part is connected to that I/O, that might be bad for that part (excess of I/O sink current). And in extreme cases (5V I/O pin that can deliver high current, or ESP is in deep sleep), this will supply current into 3.3V VCC rail, bringing it up as high as 5 - 0.6 = 4.4v potentially. Which could be bad for anything else on that rail.
As a practical example - let's say we have ESP8266 powered by a switching supply with MP2307DN [1] chip delivering 3.3v, and connected to a 5v AVR. In normal operation, ESP takes ~70mA, which exceeds 40mA driving capability of AVR, so it's all good [2]. However once ESP8266 goes to deep sleep, all 40mA from AVR's I/O go via ESP's body diode back to MP2307DN switch, which usually would fail catastrophically and end up shorting input to output, supplying 12 (or whatever the input is) volts to ESP's VCC. Which is likely to fail as well, sending 12v further and frying the whole thing.
[1] MP2307DN is widely and cheaply available on "Mini360 DC-DC buck convertor" boards and it really doesn't like current being back-fed into its output
[2] Except I/O drive transistor in AVR is overloaded, which might or might not lead to its failure eventually.