Yes,
obloquy, there were two weaknesses, which are listed above, in where Sauron could be beaten (and beaten for good only disappearing into a shadow, inaffective). One of which was destroying the ring, but this thought never crossed his mind, and figured he didn't have to worry about it...
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But that he never contemplated nor feared. The Ring was unbreakable by any smithcraft less than his own. It was indissoluble in any fire, save the undying subterranean fire where it was made -- and that was unapproachable, in Mordor. Also so great was the Ring's power of lust, that anyone who used it became mastered by it; it was beyond the strength of ANY (emphasis mine) will (even his own) to injure it, cast it away, or neglect it. So he thought.
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So, that left one way (In Sauron's mind) that he could be beaten, someone would physically use the ring to overthrow him, which he tried to make sure didn't happen.