Access and Editing Theme files (*.js and *.php)

Hi,
I'd like to change the speed of the slider. Saw a thread instructing to change slideshowspeed in the Custom.js file.
Question:
1) Do I have to use cPanel (hostgator) to access the theme files or is there a way to edit theme files within the Dashboard?
2) Which editor would you recommend to use. There must be something better than notepad.
Thanks,
~neil

 

Found the following link in one of the threads
http://www.inkthemes.com/how-to-edit-internal-files-through-ftp/07/
sure made modifying the files a snap.​