Yes, the possibility exists. First of all You have to access any process memory, or better, make it "accessible". Then You can read memory. Here are some usefull links ( by the way, You should always look in there, if You come from linux and try to do things on windows, it is the main source ).
https://msdn.microsoft.com/en-us/library/windows/desktop/ms680553%28v=vs.85%29.aspx
https://msdn.microsoft.com/en-us/library/windows/desktop/aa366916%28v=vs.85%29.aspx
There is all documented.
But ther are also undocumented approaches, really crazy stuff, which also deals whith this topic.Like this for example.
http://undocumented.ntinternals.net/source/usermode/undocumented%20functions/memory%20management/virtual%20memory/ntreadvirtualmemory.htmlhttp://undocumented.ntinternals.net/UserMode/Undocumented%20Functions/Memory%20Management/Virtual%20Memory/NtReadVirtualMemory.html