The quick answer is yes, however there are a number of different things that might be stopping the break point from being triggered. Long ago I posted this checklist as an answer to another question, it might help you now:
http://stackoverflow.com/questions/1199088/why-does-my-c-debugger-skips-the-break-points/1199272#1199272
In particular check to see if the graphic for the breakpoint is solid (indicating that the breakpoint should be hit if you reach it) or if the breakpoint is just an empty circle with a little exclamation mark next to it - if you get the exclamation mark then check the tool tip you get when you hover over it, it might tell you what the problem is.
Finally, its perfectly possible to debug a RELEASE build, however you need to make sure that you produce symbols when you build - these can either be in an external file (a .pdb), or sometimes they can be embedded into the assembly itself (although I've never done this myself)