If the containment structure is breached, the resulting fallout will be comparable to that of the Chernobyl disaster which, like most Soviet reactors, had no containment structure whatsoever. Wikipedia has a good article on the effects of the Chernobyl disaster: http://en.wikipedia.org/wiki/Chernobyl_disaster_effects
http://i.imgur.com/CckjP.jpg (X)
The reactor is the red cylinder in the middle, the containment is the pear-shaped cavity it sits in, closed on top with the yellow hood and connected to that torus in the lowest-level which in case of an accident is supposed to condense the steam back into water, thereby removing heat from the containment.
The part that's exploded is the flimsy metal "hut" on top of the concrete building.
(X) from another HN comment I can no longer find, sorry, no attribution for who posted it initially
NRC: "Reactor Concepts Manual | Boiling Water Reactor (BWR) Systems"
http://www.nrc.gov/reading-rm/basic-ref/teachers/03.pdf
Here's one with labels:
Magdi Ragheb, "Containment Structures"
https://netfiles.uiuc.edu/mragheb/www/NPRE%20457%20CSE%20462...
There are six, and units 4,5,6 were already in a cold state before the tsunami (for maintenance); they're not involved.
You could be thinking of Fukushima Daini, which has four reactors.
The chernobyl plant exploded because of a instantaneous power excursion to many times the rated maximum, and it contained a huge amount of Graphite (=Coal!) which caused a fire that dispersed a lot of fine-grained core material.
The activity in the reactor core(s) in Japan right now should have decayed to a heat-output that is a few % of their rated power and, to make up some vivid comparison with the reality as we know it: The reactor core should look like what you get if a blacksmith puts glowing-hot iron (which in the reactor-case magically heats itself up constantly) in water, the resulting steam bubbles are what creates the increase in containment pressure.
Even if there would be another hydrogen induced explosion there's no chance that even a tiny fraction of the amount of radioactive material set free in Chernobyl would be released to the environment.
This is what happened at Three Mile Island. Reactor 2 was taken offline and retired, but reactor 1 has continued operation. [1]
[1] http://en.wikipedia.org/wiki/Three_Mile_Island_accident#Curr...