Diagnosing high voltage

I replaced the alternator. I am going to keep the old one and rebuild it. Should learn to do that anyway, seems silly to buy a whole new alternator when it can possibly be fixed with a cheap part.

I am really interested to know whether or not my ignition circuit relay and fuse will protect me against a short inside the alternator.

I was lucky it was the green connection and I caught it in time with my voltmeter.

If there is a short on the blue connection my fuse should blow, which I would think would prevent the alternator from generating any power, am I wrong?