If the videofile is in flv format you can use
JW-player
Download the player and place it in a resourse folder that everyone can reach.
Then use the following embedd code
<object classid='clsid:D27CDB6E-AE6D-11cf-96B8-444553540000' width='600' height='450' id='player1' name='player1'>
<param name='movie' value='ADRESS_TO_PLAYER'>
<param name='allowfullscreen' value='true'>
<param name='allowscriptaccess' value='always'>
<param name='flashvars' value='file=ADDRESS_TO_FILE&dock=true'>
<embed
src="ADDRESS_TO_PLAYER"
width="600"
height="450"
allowscriptaccess="always"
allowfullscreen="true"
id="player1"
name="player1"
flashvars="file=ADDRESS_TO_FILE&dock=true"
/>
</object>
There is alot of different settings but the above is some example code to get you going.
For Audio I have no suggestion but to wait until the new soundplayer to fronter is released with Y11 and we will find out what it will be able to do.