WordPress 3.0 was just released, and yes, wordpress is the best blogging software. Why? Its powerful, its opensource, its free, and it has a huge community of users. In fact, this blog was created in wordpress. If you are interested in having your own blog, check out wordpress at http://wordpress.org/.
Additionally, wordpress integrates well with bbpress and buddypress because they are all made by the same companies. It is my belief that many future websites will be created using software such as wordpress rather than standard html.