avantman is correct, blogs are public by default though you can make them private. Comments are another area where you can make choices (e.g. to approve each comment before it is posted or restrict who can comment).
I'm not sure if there is an easier way to provide blog subscriptions now but I used Feedburner, a 3rd party service, to offer one. Every time a new post goes on-line it is directly fed to subscribers. A small amount of background blog jiggering was required to code a "click here to subscribe" button in my blog. Wordpress had easy enough examples to guide me.
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