Some places have classes where you learn some tips for lipreading/speech-reading.
You can practice by speaking at the mirror, watching the shapes of words and try to become more familiar with them.
You can ask someone to practice with you by speaking slowly and clearly and keeping their head still - you try to understand them.
You can also practice by watching reruns of TV shows you have seen already, or watching a favourite movie you've seen over and over, but with the captions/subtitles off this time so you have to look at the shape of words on the mouth, but do have some idea what it is about already so that it's not completely unfamiliar and you have an idea of context of words you think you see should be fitting into.
I lipread well, and these are ways I have practiced, except the lipread classes because we don't have those where I live.
Oh, and I just remember: I think I have seen videos advertised online for learning lipreading. I don't remember names, but you could do a search on lipread and video.
Hope that helps!