Bad day; could have been a whole lot worse.
My boat stays on the lift at my parents house. I'd went out there for dinner and decided to go for a quick ride around the lake while my brother was grilling. When the lift cradle got to about 3 inches above the water the right front cable snapped. Just let go - BOOM, GROAN, splash. The cable snapped 2ft away from my head and i watched the whole damn thing go down like it was in slow motion.
When the dust settled and i had checked my shorts... Everything looks OK. The front of the boat is in the water afloat and the whole boat is listing about 30 degrees to starboard because the front right corner of the cradle dropped about 2-1/2 feet. I obviously needed to get the boat OFF that lift. I just lowered it the rest of the way and there the boat floats... No Damage! Tied the boat up, ate dinner, got the lift out of the water and put the boat back on the trailer with just a smidge of daylight left.
All in all i think i had a lucky day. It could have been a whole lot worse. If the lift had been ANY higher, the side of the boat would have slammed against the dock, probably caving it in. The cable could have got my face when it snapped. If i had been standing on the planks on the cradle itself, i would have been crushed my legs between the boat and dock.
Long story short... Check your cables and don't take them for granted. NEVER allow anyone to stand on the cradle or in the boat when the lift is in operation.
Sorry for the rant, just had to vent,