Can there be two bands with the same name?

yes

There are approximately 27 metal bands with the name Armageddon or some alternative spelling of same. However none of them are really famous... there're rarely more than two or three bands with the same name if one is famous.

There was also a 60s psychedelic band called Nirvana. Guess which band is more famous.

Fest (of "1234" fame) was also the lead singer of Placebo. (She probably hasn't met Brian Molko yet.)

At least 10 bands are called Incubus, most of which are thrash metal. There is a famous exception.