If you want help, you're going to need to post more information about your system. Make/Model/Operating System would be a good start.
Off the top of my head it sounds like it could be a couple of different things. If blowing out the computer was just a coincidence that it worked again it could possibly be a virus. Have you downloaded any suspicious files lately(ex Torrenting Music/Movies/Programs?) Other than that, it could possibly be a Black Screen of Death(KSOD.) For the most part it does sound like a software issue due to the fact that you can get into safe mode.
It could also be hardware failure like your video card, the only odd thing is that the system works in safe mode. If your video card had gone bad it would just not display video.