Windows: Any way to control volume on specific programs?

Ok, I’d like to be able to control the volume on or mute a specific program. A program I use has loud, annoying noises, but no internal sound control options. It’s somewhat important that I hear the noises, but it’s annoying having them blare above the music I have playing.

Is there any way I can control the sound level of a specific program, either through a windows tool or a third party tool?