There are two types of blogs: hosted and self-hosted. A hosted blog is a blog hosted on someone else’s website. Blogger and Wordpress.com are two examples. You get to post your content on the blog, but the site that carries the blog has the ultimate control. The biggest drawback to this option is that your blog can be removed without warning. This happens in the case of violations, and can destroy everything you’ve worked so hard for. The biggest benefit to a hosted blog is the cost – they’re free.
Self-hosted blogs are hosted on your own website. This gives you complete control over the content, delivery and other aspects of your blog. This is the best option for a serious blogger, and is necessary for some types of advertising. For example, Wordpress.com blogs do not allow you to place most ads, but a self-hosted Wordpress blog has no such limitations. You will need to pay for hosting for your blog with a self-hosted blog, but the cost can be well below $10 per month.
If you are considering a personal blog to share with friends and family, a hosted blog will be more than ample for your needs. If you are looking to blog for pay, you should start out with a self-hosted blog to allow yourself more control and room for growth.