The part that rebounds the hammer is called the rebound slide. Its purpose is to pull the firing pin back out of the primer of the fired round; if that is not done, the cylinder will be difficult or impossible to open. It can serve to prevent the firing pin from hitting the primer if the gun is dropped on the hammer, but it is hollow and can be crushed. Also the hammer pin can shear off or the top part of the hammer itself can break off, allowing a round under the hammer to fire.
S&W soon found that out and installed a separate hammer block fitted into the side plate. There were two versions, but they were springs which could break or be held back by grease or dirt. That is why Colt was so successful in promoting its own "positive" safety which was mechanical and did not depend on springs.
The new S&W hammer block was, as noted above, introduced during WWII and is positive, operated off the rebound slide. Anything that will prevent the hammer block from operating will also prevent trigger return so the gun can't fire. Some people think it is a transfer bar; it is not and S&W has never used a transfer bar. The flaw in the transfer bar is that it takes a beating, being struck every time the gun is fired. A hammer block is never touched by the hammer in normal firing and won't be struck unless the hammer suffers a heavy blow.
Jim