-Update 01/08/2010 02:33AM: You can download KeyVolume 1.4.2.0 with Microsoft .NET Framework 3.5 (.NET checker, downloader, and installer) all in one. Version 1.4.2.0 includes 2 bug fixes. I created a whole new installation process with the benefit of having auto-start when computer starts so that you don't have to remember to start KeyVolume every time you reboot. In order to take advantage of the auto-start feature you need to uninstall your current version of KeyVolume and download and install the link on this Update. I recommend everyone uninstall their current version and reinstall using the link provided with this Update. You can update to the latest version of KeyVolume by right clicking it's tray icon and selecting "Check for Updates..." but you will not have the option to have KeyVolume auto-start with your system unless you use the installer listed with This and future updates.
If you are using Windows and don't have volume controls on your keyboard give My app a try. It will let you adjust and mute the volume using the ALT key on your keyboard along with the *, -, and + symbols from your NUMPAD.
The app requires a fairly updated Windows computer with Microsoft .NET Framework 3.5
It's been tested on Windows XP. Vista or Windows 7 users let me know how it runs for you. I recommend you download and install the link above if you're not sure whether you have it. If it's already installed in your system it will let you know.
After installing the Microsoft .Net Framework 3.5, download KeyVolume and install it. During installation it should be checked to run automatically. If not run KeyVolume from your Start menu.
I wrote/built the app myself. It's been tested on 3 different Windows XP PCs and all users find it very convenient. Its use grows on you quick if you tend to listen to music in the office or have people passing by your PC at home. There's nothing else like it online (I've searched). Since I built the app, trust me that it's spyware and virus free. Your input would be appreciated. Enjoy!
KeyVolume Screenshots


FAQ
Why would I download this, I have the volume controls on my keyboard?
Answer: Do not download this. It defeats its purpose.
Why would I download this, Windows already has the little speaker icon that I can click to change the volume?
Answer: Try muting the volume your way then run KeyVolume and press ALT + * (multiply symbol from your NUMPAD). If you don't see an improvement, do not download this. I built this app to make it easier to raise, lower, and mute your system's sound quickly from your keyboard.
Why did you come up with this app?
Answer: I love listening to music at work in my office. My office workstation keyboard does not have volume controls and it got annoying to have to click that tiny speaker icon when someone would walk in to my office for me to lower or mute the volume. It just didn't seem practical for me to have to precisely aim my cursor over that tiny icon then wait for that stupid volume control that never appears in the same place twice to show up.