Yes. Happened to me too, had to replace blower motor and blower motor resistor. Just don't turn your fan on. I would pull the blower motor fuse just to be safe, pretty sure it is under the hood in left hand side
Blower motor and resistir are Tricky to get at, under glove box against firewall, but can be done with simple hand tools. There is a write up on how to do it somewhere on here
That's not a question anyone that hasn't seen the car can answer. You will need to use your own discretion on the issue. Personally, I wouldn't drive anything that was generating smoke without fixing it, but that's me.
Protip: If you don't know what you're doing, don't do it.
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