The answer is definitly yes.
Go to http://www.fontsquirrel.com
There you can download fonts that are free for use commercially.
Select a font that you would like, open the view font, at the top is a "font-kit" for this font.
Download the font-kit.
What this does is creates the font for you in all the webfont formats and gives you a CSS file that you plug in to your main CSS sheet.
Works with all browsers including IE back to version 4!
Here is an example of a website I updated to use the font Palatino for all the text.