yeah, there are multiple ways of doing this
easiest would be to quick select an area, and add a hue saturation adjustment, then play around with the hue slider until it is the appropriate color
but in the case of something that is pure white, or grey you will need to once again select the area, but this time create a new layer, and with that selection add a layer mask, then fill the layer with the desired color, and set it's blending mode to overlay, at this point you may need a adjust the opacity of the color layer, or the contrast of the grey/white layer
there was actually a thread on here not too long ago where we colored in a black and white image