Re:boomerang - Not necessarily. You are correct, worn pads make a LOUD and noticeable screeching noise. It's kind of like an IDIOT light on the dashboard, you'd have to be an idiot to ignore the loud metallic screeching noise. A "squeaking" I would think might be something different, as the noise you described is rather distinctive.
OP - when was the last time brakes were done on your vehicle? Who did them and what did they do? What year/make/model of your car?
Two things to do:
1) Go to a mechanic you trust, demonstrate the noise, and see what they say. They should be able to easily pop your wheel off and inspect your brake pads. Don't do this with a random shop, as you will likely end up with a "oh yeah you need pads, rotors, axles and blinker fluid" diagnosis
2) Grab your owner's manual. It will tell you where to find the brake fluid reservoir. Look at the reservoir and you will see markings indicating the proper fluid level. If the fluid level is below the proper marking, that could be due to your pads being worn. If you have less thickness on your pads, then the brake caliper pistons are extended further and reduce the amount of fluid in the reservoir (don't worry if you don't understand that).
A low fluid level could also be due to a fluid leak, but that is unlikely. Unless you see clear slippery fluid leaking from around your wheels or the brake reservoir under the hood, I would suggest not adding more fluid until you have your car looked at.