This happens to me as well. I've wondered for years if there is actually something wrong, or if I'm somehow just worse than most people at picking one stream of words from high background noise environments.
FWIW, my hearing is excellent, and I have a headphone hobby. I definitely notice small details in music. I almost always wear earplugs at clubs / loud environments, and in general loud sounds seem to bother me a bit more than others, while my tolerance for extremely loud sounds is low (permanent hearing damage etc).
I have the same problem. My hearing is also excellent. I have worked out what the problem is, though. The truth is, nobody can hear everything in a place like that. But other people can fill in gaps in speech, possibly from other signals like watching the face, but I think mainly from a conversation model in their brain. For some reason I either lack the model, or it's just not trained properly (more likely tbh), so I have to hear everything to understand.
Oh, my hearing is definitely not excellent after many years of gigs/clubs without earplugs. It's not bad - I can hear a ticking clock from many rooms away if I'm trying to sleep - I just think it's been confused and now doesn't really cope with extracting human speech frequencies from the melange of a noisy environment.
FWIW, my hearing is excellent, and I have a headphone hobby. I definitely notice small details in music. I almost always wear earplugs at clubs / loud environments, and in general loud sounds seem to bother me a bit more than others, while my tolerance for extremely loud sounds is low (permanent hearing damage etc).