1. Create a blog directly on wordpress, for example ourfingertips.wordpress.com
   Some advantages: can be free, easiest setup – can do it all yourself, you don’t need a website or domain, many features and plugins installed and updated automatically.
   Some disadvantages: limited admin features and plugins, personal data is stored on their servers, have to pay yearly to keep advertising off your blog or to customize the look.
    
2. Install wordpress into your existing website, for example www.ourfingertips.com/wordpress
   Some advantages: it’s free and easy to install, personal data remains on your own server, no unwanted advertising, can easily and fully customize the look, unlimited admin features and plugins.
   Some disadvantages: will need manual maintenance and updates from time to time, may need help with advanced setup and customization. 

Which install option you should use depends on your needs. Basically I tend to recommend blog install option 1 for individuals and option 2 for business.

Robert