In addition to Meg's excellent advice, you can also use the "
Ducking" feature in iMovie '09.
Click on the music track, then on the little gear icon at the very beginning of the track. Select Audio Adjustments. The Inspector panel will appear with the Audio tab selected. The 2nd item, just under the track Volume slider, is labelled "Ducking". Check the box "Reduce volume of other tracks to" and move the ducking slider to the desired volume for the "other tracks". In your case the other track will be the embedded audio in the video, that is, the background talking. Reduce this to zero if desired.
John