Any frame can fail. I have had an aluminium frame fail on me, friends have had both steel and titanium frames fail as well. Any material can fail. With Carbon Fibre I am pretty sure there is an element of, it is new and if you tap it it sounds fragile, but if it was likely to fail during normal use then it wouldn't be used for frame manufacture. It certainly wouldn't be used to make F1 car chassis.
Trying to answer the OP, personally I ride Steel, Alu and CF and I would try to test ride the bikes you like the look of first if at all possible and see which you prefer. Bear in mind that riding any new bike for the first time is going to feel a bit alien.
My personal observations are that my CF bike absorbs the buzz of the road far more than my Alu bike whilst being equally stiff (making it a tiny bit more comfortable over longer distances) and a bit lighter. In terms of speed I haven't noticed much of a difference between the two on the flat although I would say the CF bike is marginally quicker up the same hills that I ride day in and day out. This would tie in with a reduction in weight.