Yes adjustments just simply have to be made. And plus well, at least in my experience you have to be realistic on what your options are.
I know there's the old adage "you can do anything you set your mind to" but let's face it I'm not going to be a musician or a telemarketer.
So instead, I figure out ways so that being deaf can be an advantage, for example, I work as a software programmer and because of this I can concentrate when creating applications. I don't get distracted by noise and conversation in the office.
But one thing I find kind of funny is when I make friends and introduce them the various technologies I use they like it so much some of them use it. One example is closed captioning on the TV. When I'd watch movies with family and friends they actually liked the captioning so much that they left it on even when I wasn't watching TV.
Another example is text messaging, I had a friend who made voice phone calls all the time but ever since I showed him text messaging he liked it so much that he ended up doing almost all text messages instead of voice calls.
And as for hardships and all, even though I do have hearing aids they aren't 100% and believe it or not I usually prefer NOT wearing hearing aids, the silence is quite comforting. This is especially an advantage when I sleep.
If you want to really understand deaf culture and life there are quite a few books on case studies of deaf children and adults.