Yes, there is
Take a look at how has Apple solved that problem. Go to the iTunes_control folder on the iPod. You'll see that there's a Music sub folder with dozens of folders named f00, f01, ... f50 (50 is arbitrarily big number). Every file has been renamed to a filename that looks like a hash value.
Use the file system to store the files. In the database store the path to the file on the file system together with the mp3 metadata information (artist, name, album, composer, etc) and provide search capabilities over it.