Audio editing in Photoshop!Thats how to do it
But I would suggest if you want to do advance video editing you should look at Adobe's video editing products Premier Pro and After Effects. I would think if Adobe has support for what you want to do it would be in After Effects.
Editing video with Photoshop is a horribly frustrating experience, and I strongly suspect that even Premiere Elements would provide a far more flexible and satisfying video editing experience. At one time I remember Photoshop Elements, and Premier Elements being bundled together for a song. I see the bundle is still available, but at about $200 (depending on what nation's dollars you would be using).
y experience over the years is that where you can mostly make do with older versions of Photoshop, that is not so much the case with video, and you might need to update to have the CODEC you need, although you might be able to convert back to a more compatible CODEC with Handbrake.
Adding to Dave's advice, if you want to proceed with Photoshop, after placing the video track, select the audio track drop-down and choose add media, and add the same video track again. This place just the audio in that track.
Right click the video track, click on the audio icon, and move the volume all the way to zero.
You can now control the audio via the second track you loaded.
Place the time indicator where you need it, make sure the audio track is selected, and click on the scissors icon to cut the track.
You can now control the level independently either side of the cut, and/or fade in and/or out as Dave showed you back up the track.
The difference between the above workflow and Premiere Pro is astonishing. I can't even begin to describe it because I wouldn't know where to start, and what to include and leave out. I have never used Premiere Elements, but I have a feeling it would be more than enough for the amateur video editor.
Editing video with Photoshop is a horribly frustrating experience....................
Yes, just because you can doesn't mean you should. I tend to keep Photoshop video editing to very short frame animations / video clips.
Check in the layers panel.
Is this an actual video clip or a smart object containing the clip (look at the symbol on the thumbnail in the layers panel)
Smart object :
If it is a smart object you will need to double click on it. It will open as a psb document with its own timeline where you can right click the actual clip and do as posted previously.