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Pressure isn't really the same thing as power. I'll answer the pressure question, but without addressing which cartridge is the most powerful.
Right now, to my knowledge, no handgun round runs at a higher pressure than the .460S&W Magnum @ 65Kpsi.
2nd in line is the 500S&W Magnum at 60Kpsi.
As I recall, the .454 Casull, as originally loaded when it was a wildcat, ran 65Kpsi. If I'm not mistaken, it has since been downgraded to 50Kpsi. If it still runs at 65Kpsi, then that ties it with the .460Magnum for top pressure in a handgun round.
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