I’m using the online software created by WordPress.com to build this site. I can’t really say whether it is better than other possibilities like blogger.com or typepad.com, but so far I’m quite happy. I don’t have any previous experience with blogging software, but it seems quite easy for a novice to use.
I paid $15 to register the nerdwisdom.com domain through wordpress.com, and they are actually hosting everything. (If you want, you can have your site at an address like example.wordpress.com for free, but I thought it would be nicer to actually own the nerdwisdom.com domain and put my site there).
Update: See this post for my experience after 7 weeks of blogging.