Which MacBook do you have? is it one of the later MacBooks without any internal fan?
Which adapter cord? The one that plugs in to your MacBook? Or the power cord (extension cord) that you might use from the adapter to your power strip/wall receptacle? Or, do you still use the "folding blade" that plugs the adapter directly into the wall socket (no extension cord)
If your power adapter (not the cords, but the device) is too hot to touch, and that is for your normal use, then you could replace that with an adapter with a higher power rating. "COULD" replace does not mean that is your best choice. The internal power circuitry is designed for a normal power level, to charge the battery, along with providing power to the system. If you have consistent very-high power draw, then it's likely that your MacBook is ALSO getting quite hot.
I think it would be a better experience if you try to control the internal temps in your MacBook. There's a variety of devices sold as "Laptop coolers", mostly fans, or other pads to help draw off heat.
Finally, my feeling is that if the cord on the adapter is changing color from HEAT, that simply means that you need to replace that adapter. (I have more often seen adapter cords change color because of exposure to the sun, or just age.)
A cooling pad, or some kind of external fan, might even be a good idea for the power adapter, just to try to keep that a bit cooler!