Blog Help Needed!

As I stated in my resolution post, I am considering the move to Wordpress, but I have no idea what that entails. After much deliberation, I've come up with an idea, but I have no idea if it's possible, or how to do it!

Background
I started this blog thinking I would be posting about scrapbooking. I quickly realized that I don't scrap enough to make an entire blog about it, and that I actually needed this place as more of a venting ground for the crazy life I lead. I love that this has become somewhere I can open up and talk about things I might not otherwise let out of my head. The one thing that has bothered me about this fact, however, is that I don't think the title of my blog corresponds with the content I publish.

This year I plan to do a lot more on the crafting front. I had a whole category of things I want to learn on that list, and I do plan to follow through on all of it! I don't want to flood my personal thoughts with any of that, but I do want to post it, to share with the other crafty bloggers I follow. I'm thinking about starting a second blog, to post all of that stuff.

The Idea
I want both blogs to be hosted on Wordpress, or have them on separate tabs on wordpress? I don't know enough about WP to know the best way to handle this.

I would like to change the name of my current blog. I assume this is possible, and I'm pretty sure how to do it.
I would like my second blog to keep the name of this blog. Is that possible?

I guess what I'm trying to do is transfer everything from this blog to a WP blog with a different name, and then use this name as a second WP blog.

Can someone please please please tell me if this is possible, and how the heck to even begin this huge transition??