Can compound interest make you rich or poor?

Could you please elaborate on the potential impact of compound interest? Could it potentially lead to financial prosperity or financial ruin? I'm curious to know if compound interest is a force that can significantly enhance wealth accumulation or, conversely, if it could potentially drag individuals into financial difficulties. Would you mind explaining how compound interest works in practice and the factors that might influence its outcome? I'm interested in understanding the risks and opportunities associated with this financial concept.