Are there any ways to lower sound volumes?

I filmed an interview and it turns out the sound was very high and I don't know how to lower it. When I lower the decibels on Final Cut 7, it still sounds like the sound is bleeding. Is there any way to save this sound and lower it somehow?
 
First, this should be in the sound section. Secondly, sounds like you've gotten distortion from having the mic on too loud... Which I'm afraid you can't do anything about.
 
If we can relate this to cinematography..... its the same as clipping your highlights: once the information is clipped, video or audio, its gone.
 
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