Oxymetazoline is a vasoconstrictor, which is why it helps "unplug" congested nasal passages. It's also the same ingredient in Visine ("to get the red out") eye drops. Cocaine is also a powerful vasoconstrictor, so overusing either substance in your nose is going to starve the tissues of blood flow and they will start to die. I didn't realize that you could get a hole in your septum from overuse of nasal spray, though.

Actually, nasal spray addiction is a huge problem, although it doesn't really get much attention. As MoBOB mentioned, if you use these chemical nasal sprays for more than a few days, you end up with rebound congestion, pressure, and headaches--exactly the things the person was trying to get rid of. So they end up in a vicious cycle of using the nasal spray to keep the symptoms at bay. I think there's something like 50 million Americans that have long term sinus issues. If even a fraction of that number is "hooked" on nasal sprays, that's still a large number. Among other things, chronic use can eventually damage your liver.

Izzy, there are safer alternatives out there, if you were interested. There's a brand of capsaicin nasal spray that I've heard is quite effective and has no adverse health effects that I'm aware of. (Yeah, you're basically pepper spraying yourself--directly up the nose--for relief! )