A power attenuator (such as a HotPlate) is designed to be used between a valve amp (head or combo) and the speakers. It's a passive device (no power supply needed) and works on the basis of using the energy from the amp and then reduces it, lowering the volume from the speakers, kind of like a Master Volume.
Even with an attenuator, you might find that a 120w amp may be a bit too much for home use, as you can't really get the amp's volume high enough to induce power valve distortion, unless of course you don't want it. After owning a 100w+ amp (TSL122) and using it at home, I'd say that going for a 50/60w would be better in the long run, as at the end of the day, there's only something like 3dB between a 50w amp at max volume and a 100w amp at max volume. I run a 50w combo at the moment, and that gets a bit too loud for home use, even with the attenuator! ;)