ANY part can fail. But, If it is installed correctly and is inspected periodically for damage or wear, unless you are exceeding the limits of the part it is highly unlikely it will fail unless there is a hidden flaw in the part.
Really, no shackles on a boat?! I have had tires blow out on the boat trailer, but I didn't stop using tires.
Snap shackles CANNOT just open by themselves unless they are damaged or the pin is not fully inserted. Have I not assured that the pin was fully inserted and it popped open? Yes. And now I make sure. The shear strength of a 1/8 stainless pin is around 900 lbs. or more depending on the alloy and the shearing edges are sharp, and they are not sharp on a shackle. So either the pin was damaged, the shackle was damaged, you weigh over 900 lbs or the pin was not fully inserted.
The D shackle linked above has a .250 dia. pin and has a breaking strength of 2430 lbs the Lewmar snap shackle with a 6mm (.236 dia.) pin is rated at 2420 lbs.
Now if you are using Chinese no brand name parts then all bets are off.