While it is possible that the regulator is bad, it's not the most likely problem, I would first make sure that the lift motor hasn't come loose, and make sure that the window is able to move freely. (A binding window whether it be the glass tight in the track, or a frozen regulator will burn up the power window lift motor).
If it's making clunking or skipping noises, chances are the damage is already done and any adjustments you may be able to make would either have no or very little effect.
You can lube the regulator, and I have found the best lube is any light congealing grease in a spray can or motorcycle chain lube. It sprays on as a liquid therefore it gets into where it needs to be and then gels up and remains in place better.
The window motor and regulator are sold separately and a window motor is a fairly easy swap. Unless you remove the door panel and see that the regulator is obviously stripped or missing teeth, I would try doing just the window motor first.
Here's one on eBay that shows the regulator and motor so you can better understand what it looks like: