Do magnets get weaker? How?

Several factors can weaken the magnetism in a magnet. If a magnet is stored close to heat, strong electrical currents, other magnets, or radiation, it can lose its strength. Additionally, high humidity can corrode neodymium magnets. Demagnetization
Rare Earth magnets have a high resistance to demagnetization, unlike most other types of magnets. They will not lose their magnetization around other magnets or if dropped. They will however, begin to lose strength if they are heated above their maximum operating temperature, which is 176F (80 C) for standard N grades. They will completely lose their magnetization if heated above their Curie temperature, which is 310F (590 C) for standard N grades. Some of our magnets are of high temperature material, which can withstand higher temperatures without losing strength.