Simple project. Two servos are burnt. What's wrong?

But if the motors burnt out in the servos, that is not a power supply problem.

WHAT??

How did you determine that the "motors are burnt" and not the electronics?

It is never a good idea to run equipment at the very top OR bottom of the manufacturer's recommended operating range.

Post a link to the actual regulator module you used. If you built it yourself, your circuit is suspect.