Yes, you can, but if I were you, I would just use separate text files and a zip containing directory. That's why:
Large arrays of numbers (HDF5 bread and butter) can be effectively stored in binary format, but there is no binary text, so there are no advantages in terms of using the HDF5 space. Yes, you can enable compression in HDF5 files, but you can easily compress text files.
Both text files and zip files are quite universal these days, so there is nothing that could be done in terms of portability.
Here is one example of something trivial that you cannot deal with HDF5: delete the data set and return its space.
, , .