I saw the example like "It may well be". Is there any rule for the position of "well"?
Good question. The usual phrase is "may well be" and it is usually used when speaking about the possibility. "Well" is used to signify the level of possibility, whether that's greater or less than "may" alone. The use of "well may be" is simply a poetic decision for the purpose of the song. You will not hear this phrase used in this irregular construction in normal spoken conversation. Ex: It may well be that the information is unavailable. Ex: A small error may well result in a serious accident.
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