A transitor is made up of several layers, at least one layer is a dielectric (an insulator, for example silicon-oxide).
Not all transistors are made like this - those without the insulating layer are not easily damaged by static. However, most high-speed modern electronics are built on a CMOS process, where field-effect transistors are used. These are highly static sensitive.
I've got a couple of heavy-duty MOSFETS lying around, they claim to be able to switch several hundred amps at 100 volts. Despite they're apparent strength, they are actually highly static sensitive - I destroyed one, by applying 30 volts to the 'gate' pin (the insulated one).
if the power kicked off in my house a split second after the bolt struck, I can assume that the fuse/breaker box shut off because of the overload. So it shouldn't have even reached my wall jack and to my power strip, correct?
The breaker did trip because of overload - however, these breakers have a built in time-delay before they trigger - things like lightbulbs and motors, take a huge surge of current as they warm-up/spin-up: a 500 W halogen bulb can take 70 A at switch on. Without this delay, they would be to prone to false triggering.
Any mechanical breaker is not going to be quick enough to protect against a lighting strike. You need to use a surge supressor. The most common type of surge suppressor is called a metal oxide varistor (MOV). It is essentially a resistor, where the resistance changes with voltage. At low voltages (less than e.g. 500 volts, the resistance is very high - virtually infinite), but at high voltages (e.g. 1000 volts) the resistance becomes very low, so it draws a huge amount of current and therefore absorbs the energy from the surge. As you might expect, they dissipate this energy as heat, and during a major surge may well explode or be burned.
A power surge is simply an excessively high voltage on the line, for a short time. These cause damage by burning the components that are connected to the supply. In a stereo system, this might be a small transformer.
In a PC PSU, there are delicate transistors connected directly to the mains - these will withstand up to about 600 volts, but will fry instantly with much more. Therefore, all PC PSUs have surge supressors built in to protect the circuits, although none would be adequate to absorb a nearby lighting strike. In a PC PSU, if the main switching transistors are damaged, the most likely effect is for the PSU simply to die, although it is conceivable that some designs may carry on working, just very badly. This may explain a malfunctioning PC.
In fact, in installations where power quality is critical you often need several levels of surge suppressor:
1) - Main suppressor (Very high surge rating, ultra-fast acting) at point where power cable enters the building.
2) - Circuit suppressor (High surge rating, fast acting) at the room supplied by each individual circuit.
3) - Power-strip type suppressor (Low surge rating, slow acting) for each individual PC, appliance, etc.
The main suppressor absorbs the energy from the main lighting strike. However, as it absorbs it, the resulting EMP causes 'ringing' in the nearby circuits, causing surges in those circuits. Therefore you need a seperate suppressor on each circuit, as well. Similarly, this suppressor causes ringing in the wires to each individual socket outlet. Not that the most powerful suppressor has to be the fastest - If it was too slow, the other surge suppressors would try and dump it, and would probably fry in the process.