Maybe. You need to figure out which .38 your Colt is chambered in. .38 Short Colt and .38 Long Colt guns will not chamber a .38 Special. .38 Colt Special is the same as regular .38 Special. If you cannot tell which caliber it is you need to take it to a gunsmith and have him tell you.
No. .38 Long Colt was the forerunner to .38 Special- and was originally a black powder cartridge. The .38 Special is more powerful- the .357 magnum is MUCH more powerful. Neither the Special nor the magnum should be fired in a gun chambered for .38 Long Colt. This is VERY dangerous.