Yep you can, doesn't that board use USB 2.0 anyway?
Definately get a powered hub (plugs into the wall). Cheap ones work just as well as expensive ones. But I've had one die myself, and my parents have had 2 cheap ones that developed dead ports. If I needed a hub myself anymore I'd probably still pick up a cheap one though.
Another alternative is to pick up a PCI card to add additional ports. For example, one i used once had 4 ports on the back, and 1 port inside.