A reminder that you should make sure you have enabled the new ‘Reduce Loud Sounds‘ option in both iOS 14 and watchOS 7, which puts a safe limit on headphone volume.
These settings were previous managed in different places within both operating systems and the limit I set in the previous version did not carry over when I upgraded. This is a bit of a worrying slip in QA from Apple, as it could quite easily lead to a potentially ear-damaging situation where someone happily sets their volume to maximum thinking they have a safe limit set, but they in fact do not.
I recommend setting the limit to to the lowest level, 75 dB. Your ears will no doubt have to contend with other shocks throughout the day, so don’t go adding any unnecessary ones. You certainly don’t want to end up with tinnitus like me!
The new setting can be found under Settings → Sounds & Haptics.
Update: Apple have acknowledged the bug described above.