A) It's not called Macromedia Flash Player anymore, and it hasn't been called that for 7 years now.
B) Flash player 8 came out 7 years ago, the newest version of Flash is 11.2
C) For the previous reason, I would suggest against making a game in Flash Player 8 because it would involve downloaded outdated software to make a game (if someone still has it out there), you would be missing a lot of features the new versions of flash have brought, it doesn't support Action Script 3.0
So the answer is can you? Yes. Should you? If you're an idiot.
