Yes, you can crack the lid and take a peak. If it's fermenting, you should see some dirty looking foam (krausen) on top of the brew.
If you're fermenting in a bucket, it's not unusual not to see any airlock activity because you often get small leaks around the rim. This is nothing to worry about.
If you pitched a liquid yeast without making a starter, it may also take 3 - 4 days for obvious fermentation to start.
-a.