Ooooh, now THIS is a topic I can relate to, being a 'hearing-impaired' (as I believe the 'correct' term is these days) person!
From 'If She Knew What She Wants' from The Bangles:
I heard: "I'd say her veins are corrupted 'cause she's up in two chains"
Actual Lyrics: "I'd say her values are corrupted but she's open to change"
From 'Walk Like An Egyptian' by The Bangles:
I heard: "All the boys are men, bite a nutty customer needin' on a bed"
Actual lyrics: "And the Bazaar men by the Nile they got the money on a bet"
From 'Somebody' by Bryan Adams:
I heard: "I passed out in the garden, when she walked in the room"
Actual lyrics: "Thought I saw the Madonna, when she walked in the room"
From 'Just Like Jesse James' by Cher:
I heard: "'Til my heart is lyin' injured in a bag and four more"
Actual lyrics: "'Til my heart is cryin' Indian and I'm beggin' for more"
These are the ones I HAVEN'T yet lived down, anyway...