When you set the minimum pagefile size to a large number, you're telling the computer to pre-allocate the pagefile (or at least as much of it as you're likely to use). This usually results in the pagefile being sequential on the HDD, speeding up access. If you use a small minimum pagefile size and the computer needs to make it bigger, it will grab whatever free disk space is available, possibly resulting in the pagefile being fragmented, slowing down access.
It won't damage your system (other than leaving less free space on the HDD). But consistent large pagefile use is a sign that you need more RAM. You can either add more RAM, or you can look in Task manager (ctrl-alt-del) to see what programs are using all your RAM and see if any of them can be removed from auto-starting. Stupid stuff like an app to check for Adobe Acrobat updates, printer driver updates, etc. can be removed from the startup list (one of the tabs on Task manager, though in older versions of Windows you needed to use msconfig) to save memory.