Although keyboards have buttons to control the volume in Windows, it is always nice to have a shortcuts to increase and decrease the volume. VolControl is a simple freeware application which can assign keyboard shortcuts for increasing or decreasing the volume as well as to mute the speaker. It has two modes of operations and you can also start the application on Windows start up.
The default mode is to register three hotkey combinations with Windows which correspond to the volume up, volume down and Volume Mute commands. The second mode will usurp the volume control keys on many media keyboards to the same effect. This allows the user to more granularly control the volume settings.