Sebastian,
I believe what you want for this is \emergencystretch, for example \emergencystretch=3em. This allows TeX a bit more flexibility when it applies its line-breaking algorithm.
Here is a simple example, followed by a picture. Try it out with different values between 0em (the LaTeX default) and 5em and let us know if that works for you.
\documentclass{article}
\usepackage{amsmath}
\setlength{\topmargin}{-1.3in}
\setlength{\textheight}{11in}
\begin{document}
\newcommand{\composers}{\noindent
A short list of famous composers includes Bach (1685--1750),
Beethoven (1770--1827), Brahms (1833--1897), Chopin (1810--1849),
Elgar (1857--1934), Handel (1685--1759), Haydn (1732--1809),
Holst (1874--1934), Gustav (1860--1911), Mendelssohn (1809--1847),
Mozart (1756--1791), Scarlatti (1685--1757), Schubert (1797--1828),
Schumann (1810--1856), Shostakovich (1906--1975), Sibelius (1865--1957),
Tchaikovsky (1840--1893), and Vivaldi (1678--1741).\par}
\emergencystretch=3em
\composers\narrower\composers\narrower\composers\narrower\composers
\narrower\composers\narrower\composers\narrower\composers
\end{document}
And here's how that looks — no more overfull or underfull boxes. :) It's not perfect, but it may just do the trick for the text you are typesetting. How wide/narrow are your margins? This sample output below progresses through several narrowings:

\linebreak[2](or in absolute emergency\linebreak) can solve the problem. – egreg Jan 21 '12 at 22:19