NO. Piston rings are not related to oil pressure. But worn bearings can make oil pressure drop a little or a lot! I'm talking about crankshaft bearings and camshaft bearings, but not muffler bearings.
Hmmm. The above answer is after I read your question only. After writing that, I went up to the top and read your story. I'm rather surprised at what you did!
For Your Information: Tighten spark plugs, turn CLOCKWISE. Loosen spark plugs, turn COUNTERCLOCKWISE. You must have an aluminum head.
I think you didn't tell us the whole story. If the CERAMIC from the insulator got in-between the piston and the cylinder, it could/would EASILY dig a groove in your cylinder wall (did you see one? Did you LOOK??) It would make reduced power from that cylinder, and also combustion would be getting into the oil, so making it prematurely dark. Hint: Check the compression of all you cylinders. See if that cylinder has a markedly different and LOWER reading. Get a proper screw-in compression tester. Take ALL the spark plugs out when you do the test. Disable your ignition system so no damage is not done.
"as I was untightening it, the spark plug stripped. But not the threads from the spark plug itself, but from the head. So I re used the same spark plug, thinking it was was ok" Have you learned that it was NOT ok??
"the electrolight was nowhere to be seen". OK, it's spelling day. Maybe your voice translator did this, or your spellcheck did it, but the word is INSULATOR. At the end of the insulator (on the inside of the engine) is the ELECTRODE. "Electrolyte" is something that is related to the battery. Al least you didn't say Electrolux!