Like
majk_tajsam already informed you, you can use keyboard shortcuts to "time-shift" subtitles:
Ctrl+Left/Right:
. Subtitles time correction -/+
. VobSub subtitles dec/inc delay
Shift+Left/Right:
. Subtitles time correction -/+ (small steps)
. VobSub subtitles dec/inc speed
(Also some skins have buttons just to do that.)
What type of subtitles are we talking about by the way? Can you read the subtitle file in e.g. Notepad? Often downloaded subtitle files not only need a time-shift but also need to be "stretched" or "shrinked". For text-based subtitle files I always use
Vladimir's subsync which is a very simple and basic utility, which does the job it is supposed to do perfectly for only three types of subtitlefiles, i.e. SAMI, SubRib and MicroDVD or .smi, .srt and .sub. (For some indication on its use perhaps see
this post
Other subtitle utilities are (i.a.)
SubtitleWorkshop (which covers a huge number of subtitle-types and has a lot more options and possibilities) and
SubMax, but I've no real experience with those.
