Its a complicated question in a number of ways. It may be instructive to examine a handful of crashes and see if we can determine what the best course of action would have been (in hindsight) and then evaluate the possibility that someone (pilot, stewardess, ATC, computer?) could have made the same decision. The NTSB pages I linked have pretty much all the relevant info. Here are the last 10 crashes by US carriers:
08/02/97 LIMA, PERU CONTINENTAL AIRLINES BOEING 757-200 1 141
12/28/97 PACIFIC OCEAN UNITED AIRLINES BOEING 747 1 373
06/01/99 LITTLE ROCK, AR AMERICAN AIRLINES MCDONNELL DOUGLAS MD-80 10 129
01/31/00 POINT MUGU, CA ALASKA AIRLINES MCDONNELL DOUGLAS MD-83 83 0
09/11/01 NEW YORK CITY, NY AMERICAN AIRLINES BOEING 767-200 81 0
09/11/01 NEW YORK CITY, NY UNITED AIRLINES BOEING 767-200 56 0
09/11/01 ARLINGTON, VA AMERICAN AIRLINES BOEING 757-200 58 0
09/11/01 SHANKSVILLE, PA UNITED AIRLINES BOEING 757 37 0
11/12/01 BELLE HARBOR, NY AMERICAN AIRLINES AIRBUS INDUSTRIE A300-600 251 0
01/08/03 CHARLOTTE, NC US AIRWAYS EXPRESS Beech 1900 19 0
The most recent was a commuter that IIRC crashed on takeoff. It was overloaded/out of balance, pitched up on takeoff, stalled, and crashed. Like Cliff_J said, in a case like that, a parachute is unlikely to inflate.
Next was the Airbus who'se vertical stabilizer snapped and frisbee'd in. That's probaby a good candidate when viewed in hindsight. It wasn't real high (a couple of thousdand feet?) but may have been high enough and slow enough for the chute to deploy. Landing in a city, you still might kill everyone on the plane (one severed engine can turn it into a fireball), but at least they would have a chance.
Now the tough part though: could the decision have been made? The pilots didn't know they didn't have a vertical sabilizer and at the time it snapped were already in an iffy place control-wise (wake turbulence). Would they have realized their situation was hopeless with enough altitue and attitude to pop the chute? I tend to doubt it.
Next 4 are 9/11. Clearly, in all 4 cases a parachute would have been preferable. But who makes the call and when? I highly doubt anyone knew what was coming before the 1st plane hit the WTC. At the time the 2nd plane hit the WTC, who knew it was hijacked? IMO, the decision cannot ever be made by flight attendant, computer, or ATC. Its too big. That leaves FAA and upper-level government officials. None could have made that decision - I'm pretty sure they didn't know. I'm not sure about the Pentagon plane, but the 3rd was positively ID'd as hijacked and an intercept was underway when it went down. It was in as good a place as any for a ditch. It would have been a good decision and Bush himself was in a position to make the call. Still, not knowing about the uprising, would a decision have been made in time? Questionable.
A quick word on pilots and decision-making. Most are ex-military and as such they are decisive but tenacious. They would be unwilling to give up on a plane while they still have altitude. That's fine for a fighter with an ejection seat that works while sitting on the ground, but for a jetliner needing 1000 (2000?) feet for a parachute to open, that's a big decision with questionable information.