I have a shared hosting account, is it possible to install LAME onto my account? I also don't have SSH access. I want to convert wav to mp3
You will need to request that the server administrator installs it. Most shared hosting providers are used to these types of requests, and are generally accommodating. However, they may have concerns with you processing large amounts of audio content, and using more than your fair share of system resources.
It's worth asking, at least!