Quote: Is there a way to make up for camera shake?

Depends on how bad the camera shake is.

Put Video on Timeline, Click Fix/Enhance, Check Stabilizer, adjust the amount of correction with the slider.

There is third party software that may do a better job.

Practice.
Tripod.
Walk and pan like a pro, think like a pro.
PM sent inludes 2 SALs that are quite good. HP Envy Phoenix/4thGen i7-4770(4@3.4GHz~turbo>3.9)
Nvidia GTX 960(4GB)/16GB DDR3/
Canon Vixia HV30/HF-M40/HF-M41/HF-G20/Olympus E-PL5.
Tape capture using 6 VCR, TBC-1000, Elite BVP4+, Sony D8 camcorder with TBC.
https://www.facebook.com/BarryAFTT

I'll endorse Barry's remarks there, re: tripod. Carl's reference to the "stabiliser" function in fix/enhance works to a degree but the outer perimeter of the image will jump around, something you'll need to mask over. I've tried the stabiliser effect once previously while using PD7 and noted the effect of the image perimeter shaking. If the degree of image shake is too great for the stabiliser to correct, then it's tripods for you in future shots, my friend!

I've been down this road, a tripod is something most folks don't have in their pocket (though a mini tripod will fit), so practice is still important. HP Envy Phoenix/4thGen i7-4770(4@3.4GHz~turbo>3.9)
Nvidia GTX 960(4GB)/16GB DDR3/
Canon Vixia HV30/HF-M40/HF-M41/HF-G20/Olympus E-PL5.
Tape capture using 6 VCR, TBC-1000, Elite BVP4+, Sony D8 camcorder with TBC.
https://www.facebook.com/BarryAFTT

I agree with Neil and Barry,

The real cure for a shaky camera is don't shake the camera.

Hold steady, lean against something like a tree or doorway, helps,
Nothing is as good as a tripod. Or a camera mount (Clamp).

The image stabilizer is just a patch for bad camera work. Sometimes it may be the only option, such as riding in a car while shooting.

The image stabilizer function in many cameras help with hand holding, nothing makes up for a solid support.

Carl312: Windows 10 64-bit 8 GB RAM,AMD Phenom II X4 965 3.4 GHz,ATI Radeon HD 5770 1GB,240GB SSD,two 1TB HDs.

I agree with the tripod suggestion. I own a monopod that I can use as a walking stick but that transforms into a tripod when I need a tripod.

Thi si not the one I have but is close:

http://www.amazon.com/Trek-Tech-TrekPod-Aluminum-MagMount-Travel/dp/B00A0VG508/ref=pd_cp_p_3

I haven't tried this but something like it might be worwhile looking at:
http://www.bhphotovideo.com/c/product/884807-REG/revo_st_500_handheld_video_stabilizer.html/prm/alsVwDtl

Here is a good article covering everything above;

http://www.digitalcameraworld.com/2013/01/31/camera-shake-the-ultimate-cheat-sheet-for-using-tripods-monopods-and-shooting-handheld/

I have tried and bought a couple of stabilizer programs. They MAY do a slightly better job than PowerDirector. You'd have to judge for yourself. Take a look at the Trial or the non-pro version of Mercalli from ProDAD. I ended up buying ProDrenillyn because it has other fixes for action camcorders. .
.
BoilerPlate: To posters who ask for help -- it is nice to thank the volunteers who try to answer your questions !
Anything I post unless stated with a reference is my personal opinion.

Stevek's monopod is also a good idea. You could easily fashion one for yourself with a pole and a bit of other hardware. By hardware, a small piece of metal attached to one end, with a hole, of the same diameter as that on the underside of your camera, through which a nut can be screwed into that hole in your camera's underside(there to provide attachment to a regular tripod). How you affix the metal piece to the pole is up to you and depends on whether the pole is metal or wooden. But a monopod will allow you to pan left or right easily, leaning back or forward for tilt. These days with digital(DV-tape or newer SD card-based cameras having their own little flip-out monitor screen, people tend to hold the camera out in front of them and view the activity they're shooting through the screen. Fine, if you have a steady hand, but a tripod or monopod can go a long way toward helping to steady that image. And just a thought, the weight of that tripod or monopod, while attached, could help steady the camera while walking and shooting.

Price of a monopod is not expensive:

http://www.bhphotovideo.com/c/search?Ns=p_PRICE_2%7c0&ci=397&setNs=p_PRICE_2%7c0&N=4042754140&srtclk=sort

You can build one like Neil suggests, for the price, it is not worth it.

You can also buy a Tripod for about $40. There are better and more expensive tripods.

Carl312: Windows 10 64-bit 8 GB RAM,AMD Phenom II X4 965 3.4 GHz,ATI Radeon HD 5770 1GB,240GB SSD,two 1TB HDs.

We must not get our dials stuck on TRIPOD. It's good to have one, yes, but technique and being familiar with the camera can yield very good results.
On top of that, a proper stabilizer program can be useful in post. HP Envy Phoenix/4thGen i7-4770(4@3.4GHz~turbo>3.9)
Nvidia GTX 960(4GB)/16GB DDR3/
Canon Vixia HV30/HF-M40/HF-M41/HF-G20/Olympus E-PL5.
Tape capture using 6 VCR, TBC-1000, Elite BVP4+, Sony D8 camcorder with TBC.
https://www.facebook.com/BarryAFTT