Some blocks are easier to crack than others. (Some of them did it naturally, with no abusive treatment.)
Often, if you overheat an engine moderately, especially one with aluminum block or heads, you may find you have warpage. It is more common for the head to warp, but not impossible for the block to do it too.
You won't get enough steam pressure to crack a block, but you can crack them with shock.
Normally, if you haven't driven the vehicle into the depths of Hell, you can play water over the radiator, with the engine running, and get a bit of cooling...maybe enough to get it under control with little damage. You must NOT run up and open the radiator cap on a car like this, unless you really didn't value that hand anyway.
If you have destroyed the main bearings, say goodnight Gracie. You might as well shut it off and let it cool naturally. It will need to see the engine doctor.
My uncle (may he rest in peace) used to tell me stories about borrowing a family member's Model T, and running it out of water. He said that the block was glowing red hot when he realized what he had done (literary license or truth, I don't know). He said he got a bucket of water out of the river and drowned that engine with it. The block didn't crack. (I believe in those days Babbitt metal bearings were used, and if so, a red hot condition would have certainly melted the Babbitt). Cranked it up and drove off.
He was a fun guy, and his pictures had been taken off the post office bulletin boards when I heard this story.
Bottom line... If you get yourself in this condition, you have to determine quickly whether to try to cool the radiator or shut her off. Above all, be safe.