Given this level of information, I would say with complete confidence "definitely maybe". Can you be any more precise? How many is a few hundred likely to be at maximum? 8 bytes in total including the id? Why would that be less if you encode them? How quick must the lookup process be? I am thinking the Arduino Uno for example has 1K of eeprom. Would that be enough? Extra eeprom or ram can be added via i2c bus or spi bus, but that would be much slower.
Paul