You can fix this by getting the data out and back into MySQL in utf8 format.
a. Export the schema only:
mysqldump --default-character-set=latin1 --skip-set-charset -d -uusername -ppassword dbname > dbname_schema.sql
b. Export the data only to a different file:
mysqldump --default-character-set=latin1 --skip-set-charset -t -uusername -ppassword dbname > dbname_data.sql
c. Open the file 'dbname_schema.sql' with any editor and replace each "DEFAULT CHARSET=latin1" phrase with "DEFAULT CHARSET=utf8" one
d. Make a new utf8 database in MySQL
mysql -uusername -ppassword -e "CREATE DATABASE new_db DEFAULT CHARACTER SET utf8 COLLATE utf8_general_ci"
e. Import the schema and then the data in utf8 format
mysql --default-character-set=utf8 -uusername -ppassword new_db < dbname_schema.sql
mysql --default-character-set=utf8 -uusername -ppassword new_db < dbname_data.sql