Personally I don't notice much difference in noise whether I shoot 32 Mags or 327 out of my single six. Regardless of gun I have hearing protection on anyway. Not doing that when younger is why I got my first set of hearing aids last week.
Most of my rabbit hunting is walking them up in the sage brush. A lot of the time I hear them jump behind me. I always use ear protection when at the range or plinking but like the .38 special and 44 spcl for small game hunting because they don't bust my ears like the 357 mag and 44 mag. Messed up my hearing with the 357 50 yrs. ago.
A good pair of the electronic muffs (the ones with 4 microphones so you can still determine sound direction) will actually let you hear better than with naked ears, and will shut off above 85 dB, making the muzzle blast a moot point.
An excellent investment.... way cheaper than hearing aids.
I have several .32 H&R Magnums. I have used them on edible small game. However, I do NOT use the magnums on small game. There is absolutely NO need to do so. I load up the .32 S&W Long case with a wadcutter or SWC loaded to target velocities. At the ranges that edible small game is shot, they work beautifully. The noise is MUCH less than a full house magnum load.
Of course, you can do the same thing with the longer .32 H&R Magnum and Federal .327 case. Keep the velocity around 800 fps. The occasional game shot in the open should not be too damaging to the hearing.
Of course, the BEST solution is to use, as stated above, one of the new electronic muffs to protect your hearing.