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This stat is not capped, however dealing more that 2.14 billion damage from one bomb will crash the game.
Bomb Damage can be seen in game by mousing over the bomb damage stat in the journal:
Base is the base damage that is done by the peasant using a bomb. This value will have a small variance added to it, but if there are no modifiers, then this is approximately the damage that is done to the enemy.
Base modifier is an additive modification to the base amount that will increase or decrease the base value.
Base multiplier is a percentage multiplication to the base value that will increase or decrease the base value by that percentage. For example, if it's a 10% multiplier. that means it will multiply the base value (after the Base modifier) by 1.1.
Bonus is an additional boost after the calculations, which is additive.
The rest of the stats in this dialogue have their own page.