Can we have a standard for audio volume?

This is something that has bugged me for years. You watch a vid, listen to a song etc and adjust your speakers/headphones/earphones appropriately. Then, you open up a new piece of media and your eardrums explode (or, you can't hear anything).

Is there any technically feasible way to create some kind of 'standard' volume? Alternately, what about client side solutions?