Is it possible for individual faces to have separate materials from the rest of a mesh? I've only got maybe a week's worth of total experience with Blender and I figured it would be fun to attempt something that isn't overly complex, i.e. something cube-like, so I decided to recreate the Companion Cube from Portal 1.    In modeling and figuring out the center circle pieces I noticed something I missed earlier though. See how to the top of the center circle the pink actually continues into the base of the circle?

I thought I could use loop cuts aligned with the cut out parts of the cube core

which I would then separate from the rest of the mesh in order to have separate materials but I learned that with a subdivision surface modifier involved the results are not that great.

Is there a way for only the two faces resulting from loop cutting to have the pink material and also not go wacky or am I going about this in a way that won't work?
Thanks in advance for any and all help, assistance, and advice given and shared.
You can assign multiple materials to the same mesh, and then in edit mode select faces and in the material tab assign those faces to whichever material you want.