Current is usually load dependant. A failed diode may cause your power supply to output high current.
A power supply fault, whether transient, intermitent or continous, or a power line transient may result in a voltage spike to the load. This may destroy the load or the diodes, and high current may be the result rather than the cause.
You will notice that I have used the word "may" several times. You have not provided enough information for the power supply experts like itsmoked to give a more definite answer.
respectfully