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As is said ALL through out this forum. NEVER EVER EVER EVER EVER EVER depend on the readings ffrom software. EVEN if it comes from the manufacturer, it just is never reliable at all. Instead go out and get your self an inexpensive DIGITAL MULTIMETER. The readings from mobo's can be INCREDIBALLY off.
If the +3.3V rail really was at +4.08V, I'd expect the overvoltage protection of the PSU to kick in and shut down everything. It's normally designed to do this at 15-20% overvoltage.
I sincerly doubt anything is being baked that is almost 20% out of spec. Your whole computer would not even function that far out of spec (to be exact it is 23.44% above 3.3 so -5% spec and you get almost 20%). I can guarantee you that your board is reading it wrong (as almost all do). Get your self a digital multimeter because it could STILL be high, just not THAT high.
Probably nothing's baked but the software that's reading the voltages. You may get more accurate readings through the BIOS setup, but even it may be inaccurate because the hardware that reads the voltages isn't known for high accuracy. So get out your digital multimeter (WHAT? You don't have one????) and connect it between an orange wire and a black wire.