Unfortunately, you can't register in any course (even if it's not full) once the deadline has passed.
EDIT: Sorry, I didn't see your second question. :p You can cancel a course by going to SOLAR. You have until March 5, 2010 to cancel a course without academic penalty. You'll be facing financial consequences however, and the course will show up as "Canceled" on your transcript. It's not a bad thing, but having to many "Canceled" courses wouldn't be a good thing. If you drop the course after March 5, 2010, the course will show up as "Fail" on your transcript, which certainly isn't a good thing.