It possible for braces to help realign the jaw?

Yes: If your teeth are coming together in such a way that the jaw is distorted when you close this can cause many jaw problems including tmj. Braces can be invaluable in cases like this.

Yes and no: Braces by themselves, without other appliances rarely move the jaw, however, when teeth are so mis-aligned they can cause the bite to be pulled to one side or other. Correcting the tooth alignment then allows the jaw to seek its' proper placement in the hinge area (tmj).

Tough to assess: The definition of "realign" is problematic. Without a proper examination with an orthodontic specialist, tough to know if braces will resolve your specific situation. In general, alignments of jaws and teeth are possible.