Stochastic Bloch equations which model the fluorescence of two-level molecules and atoms, NMR experiments, and Josephson junctions are investigated to illustrate the profound effect of multiplicative noise on the critical frequency of a dynamical system. Using exact solutions and the cumulant expansion we find two main effects: (i) even very weak noise may double or triple the number of critical frequencies, which is related to an instability of the system, and (ii) strong multiplicative noise may induce a nontrivial zero critical frequency thus wiping out the overdamped phase.