In a nutshell:
WordPress.com is a FREE service that is hosted by and at WordPress.com. It is similar to Blogger, which many people refer to as blogspot.com. You have NO hosting fees, but you are tied down more and cannot install custom themes and custom plugins etc.
WordPress.org is the main domain for the WordPress Community. With WordPress.org you are basically downloading the latest version of WordPress and installing with your hosting account. The software is FREE, but you have to host it yourself at some hosting company that supports hosting WordPress, as in Webnovate.
Hosting is rather cheap and you have a ton of options with WordPress.org and you have support from the entire WordPress.org family. Wordpress is growing and growing and there seems to be more and more plugins and themes, information, and support.
WordPress is rather easy to install. There are a few things you want to do from scratch to help your SEO out as in changing the permalinks. If you are a non-techy person and want us to install it for you, just give us a shout and we would love to help you out. If you host with us, then we will set it up for you for FREE.