Did it just start squealing out of the blue or did it start after something was changed? Is it the belt or actually a bearing going out? An easy way to verify the belt is to drag a bar of soap or bees wax (mentioned above) along both sides of the belt while the car is idling. If it quiets down, you have confirmed the belt is the culprit. Neither hurts the belt.
If it started after say...the alternator or water pump was changed, I would be looking at the alignment of the pulleys. If it started after the belt was changed, I would be adjusting its tension. Hope this helps.