Is it possible to use a simple voltage divider to get 4.8v from a 12v supply, rather than using a 7805?
Yes you can, but the success of this method depends on the current drawn by the microcontroller, but the moment you start driving any loads you will get swings in supply voltage as the uController draws more current, leading to a drop in supply voltage, leading to unstable operation. As a minmium addition, you should add a 10uF or more capacitor across the lower resistor to provide some of power smoothing during transients. As nick12ab sadi, you will get much better results using a 7805L package to do all this.