voltage of input(+5V) is greater than the supply(+3.3V) provided for 74HC245 buffer
If you want to translate 3.3V signals to 5V then you must power the 74HC245 with 3.3V, because at 5V it might not reliably detect a 3.3V 'high' logic level. However it will also only output 3.3V, which may not be enough to reliably drive 5V logic.  

Any 5V inputs will inject current through the protection diodes and out the Vcc pin into the 3.3V supply. Depending on how 'stiff' the supply is, this may either exceed the protection diode's current rating, or raise the 3.3V supply to ~4.4V (which would be bad news for anything on the 3.3V side that can't handle the higher voltage). 

You could wire resistors in series with the I/O's on the 5V side to limit diode current, but they will slow down the signal rise and fall times - and make the 5V output level problem worse.

If you power the 74HC245 with 5V then you have similar problems, but on the 3.3V side. 

So the answer is:- use a proper level translating buffer such as the 74LVCC4245A, which is powered by 3.3V on one side and 5V on the other.