yeah, you can. the main thing to watch for is the accuracy. electrical components will have a range of accuracy, from +/- .1 to +/- .01.. the tigher the tolerance the more expensive, but the closer to the exact value the component will be.
If the kind below is the style Axiom used, then this is what i would replace it with one of these.http://www.parts-express.com/pe/showdetl.cfm?partnumber=027-336
And yes, a bulging capacitor = a dead capacitor... check all of the others on the cross over as well.
Have you ever done any type of electronics repair before? if not buy a starter ic board kit, and practice with that to learn how to solder before you attempt the fix.