Water is a pretty strong low pass filter, so especially higher frequencies (or just higher frequency content like drum hits) is filtered out most strongly as you pass through it. That said, sound can have an effect, and some of my fish do jump a little bit when a pistol shrimp snaps in its den in the tank.
I haven't noticed any sound that I've made have an impact on them - powerhead vibrations and the filtering effect of the water mask and attenuate it pretty strongly - but impacts on the stand or glass could certainly make for strong impulses that they may react to.
I play bassoon about 3m from my tank on the regular and haven't noticed either ill effects or changes in behavior. My orange spot goby likes to come out and watch - presumably because I'm not close enough to be really imposing and because likes to keep an eye on things rather than an appreciation of music.