The metal ends of the brake flexible hoses are called ferrules.
These can corrode quite well, and if the corrosion gets too much, it can restrict the internal diameter of the brake hose. This will not atop you applying the brakes - but can prevent the return of the brake fluid when you let go of the brake. this will cause binding and wear your brakes out more quickly.
Excessively corroded ferrules is an MOT fail - but excessive in MOT terms means REALLY bad.
How does external rust restrict the internal diameter of the brake hose?