simplistically,
impedance is a measure of how easy a/c current can flow thru the speaker
If you are replacing 1 for 1 , you should just get back the same impedance
if you under spec your impedance,
( say orginal impedance is 8ohms and u replace with a 2 ohm speaker )
this will cause greater flow of current
which the amp may not be designed for = "bye bye amp"
if you over spec your impedance,
( say orginal impedance is 8ohms and u replace with a 16 ohm speaker )
this will cause underflow of current
= lower output, sound is compromised.
Tube equipment can take bigger mismatch
solid state stuff are more sensitive
but best not to mismatch