Cream can safely be frozen. According to America's Test Kitchen, heavy cream or whipping cream can be stored in the freezer for up to 4 months, but this may alter the thawed texture of the liquid.
It is necessary to consider future uses of cream when deciding whether or not to freeze it. Freezing cream causes the fat molecules to clump together, and once frozen heavy cream has thawed, these clumps may appear suspended in the liquid. They will reincorporate into the cream if it is heated in a recipe but can create lumps in recipes in which it remains cold, such as with whipped cream. Fortunately, according to the California Milk Advisory board, whipped cream can be frozen in spoonfuls on wax paper and then transferred to a freezer bag once solid.