I once had tinnitus for a week after a concert and it was one of the worst weeks of my life, it felt like it would last forever (and for some people, it does). I had pristine, "golden ears" for audio engineering and was afraid about how much I'd be able to recover. I missed even the boring high pitched squeaks of doorknobs, faucets, etc. Everything was muffled. Since then, I've been wearing Etymotic earplugs at concerts (the few I went to).
There is research on proper restoration of the cilia (ear hair that allows us to hear), but we don't know if it's a "hardware" problem (these hairs), "software" problem (brain), or both, in what amounts. So it's far away (EDIT: if it's even possible at all...). Hearing aids are not something you want to fall back on. It's not like eyes with glasses and contacts. Be careful.