Not with LW's media player no. But if you import the songs into iTunes, you can adjust the volume (psuedo only) by selecting the song (or songs using the SHIFT key) & selecting Get Info... under File menu (or Command +i) & pressing the Options tab, where you'll see a volume adjuster. Of course you can also choose an equaliser preset or as I often do, create my own custom presets. This info is stored within the ID3 tag.