Every internet user will love to have all the things in as small package as possible . Plugins for popular softwares became famous for the same reason as they come in small packages . I found one such package for you which displays lyrics of the song you are listening on Winamp and Windows Media player. It just retrieves the lyrics of the song you are listening to from the internet and displays in the media player. You can get lyrics of most of the famous songs from their database itself.If you can't find one , you can add the lyrics to the database easily if you have them .
Download Lyrics plugin for Winamp and Media player.
If you use any other software for displaying lyrics , post it as comments . If I find them worthy , I'll add them to the post