Yes, the simplest thing you can do is to turn your water heater down to 120 degrees F. Another option is to have antiscald devices installed on your faucet and showerheads. These devices help maintain a safe water temperature, thereby preventing accidental scalding.
Some installations of these devices are complicated and are best left to a plumbing professional.
For more information, visit: http://www.extension.org/pages/Concerns_for_Home_Safety.