Many babies love them, but you don't want to get too close to fireworks. A little bit of common sense is in order, really — if you are so close that you can feel the vibrations and the blasts are intense, it can damage baby's hearing (and your own). However, there's no need to keep baby away entirely — just keep your distance. If you are concerned about baby's hearing, cover his ears with a hat, blanket, or baby earmuffs.
As for personal fireworks, they are NEVER a good idea. Fireworks are explosives, and are dangerous to adults and children alike — they often go wrong. It's best to head to a big public display. (This can be a safe, fun way to enjoy the holiday for the whole family.)