> Technically, cancel is safe
No, it's not safe in that scenario. "Destructive" means throwing away anything, even one word the user typed. Do not use the word "cancel" for that operation - use the word "Discard" or an X button, with an are-you-sure prompt that has a cancel button that safely brings you back to the editing interface.
Edit: OK, maybe "one word" is an exaggeration. Certainly for the case of a form of input fields a no-prompt cancel button is inappropriate. However, if you have a simple OK/Cancel dialogue that contains a single one-line input field, it is usually acceptable to have a Cancel button that throws away your input without prompting.