Verified answer

It's absorbed by skin and it whitens the skin.It burns the skin, when used in high concentrations. And it can reduce the production of new skin cells.

More info:

http://en.wikipedia.org/wiki/Hydrogen_peroxide

I didn't know it damaged skin. It cleans out cuts and things- sometimes i will have little white dots on my skin but afterwards they just go away. ( It does damage hair though )