Demon of Destruction!
This is a famous story, reprinted in fanzines at least a few times that I can remember. "Demon of Destruction," by Al Williamson and Frank Frazetta is from Forbidden Worlds #1, from 1951.
Only Williamson signed the story, on page 2, but he was known to ask his buddies to dive in and help.
Except for the artwork, "Demon" is pretty standard ACG fare. A man and woman get mixed up with the supernatural, in this case a demon, Marzo, who is "worse than Satan." Wow, that's bad. As always, the humans are smarter than the evil-doers in these stories. There really was no need for Marzo to grant three wishes because they turned against him, but such is the way of ACG plots.