You can't delete posts, you can only hide them in the ui.
The block explorers will still show them and any edits.

will the earnings I receive for the upvotes remain intact?

Yes.
Unless somebody notices you repeating content and flags the post.
When you make a mistake like that, make a new post mentioning the mistake and things should be ok.
We know who the abusers are, for the most part, and you haven't made the list, yet.

my Hive wallet will not get debited for it,

No, only your keys can change your account.

You might consider setting rewards to 100% power up, while hbd is below 1usd you will get fractionally more hive.
If hbd goes way over a dollar you can change it back and get more value in hbd until it drops back below a dollar.
For the most part 100% power up is the safe maximizing bet.
You can find these settings in the advanced settings of the post, depending on which ui you are using.