You can temper the hot water (coming out of your hot water faucet and shower/tub faucet) by slightly adjusting the winterizing by pass valve on your hot water heater. This will allow some cold water to mix with the hot water coming from the heater. You just play with the bypass valve until you get the temp you want and then leave it there.
Cheaper solution than purchasing a new thermostat. (OK, I'm cheap...I think there's a thread on this forum that can't understand us cheapos. We look for simple, inexpensive solutions to problems)