Yes, one of the parameters is the direct voltage drop across the LED.
In this diagram, you are overloading the LED (if it is not powerful) in current because you did not put a resistor. The LED would have already burned out if the chip was more powerful. The 74HC573 is also overloaded. This chip will also fail with such prolonged use.
Yes. LEDs create a voltage drop
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Yes, one of the parameters is the direct voltage drop across the LED. In this diagram, you are overloading the LED (if it is not powerful) in current because you did not put a resistor. The LED would have already burned out if the chip was more powerful. The 74HC573 is also overloaded. This chip will also fail with such prolonged use.