In reality, it probably won't hurt anything. It cracked from the lagbolt going in. You could screw and glue a rip of plywood on the side showing if you want to help keep it from getting any worse. Looks like conduit running on the other side. If you decide to put the plywood on, replace the two lagbolts holding up the garage door hangs with carriage bolts of the same diameter, drilling through the plywood and 2x . That will help hold the sandwich together and provide good support for the garage door hangs.