Not individual song titles.. Those are customarily rendered in quotation marks, as are the titles of short stories (e.g., "The Long and Winding Road", by the Beatles. A full-length book title is italicized, as would be the title of a music album (e.g., Abbey Road, by the Beatles), or a movie or a TV series.
Also customarily italicized are the names of ships (e.g., HMS Irrelevant).
And it is standard practice to use italics for emphasis; just don't overdo that.
Purdue OWL is also a good reference for such things.
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