Still, CPUs and gpus shouldn't go that high on full load. Around 110-120 is when gpus will get damaged. So try letting the pc cool itself over the day, off. Then restart and run a program which was messing up. The temps won't skyrocket right away, so if it is still bad, might be permanent damage.
Btw you should change gpu fan speeds from default ones, which really are too low. I've used msi afterburner for this, but most of the companies have their own with similar functionality.