This HowTo will give you a basic understanding of howt to embed videos into your posts.

This HowTo will show you how to use the Code View to embed Objects and the drawbacks of the process.
There are many Plugins that you can use to help you embed videos in your WordPress Blogs.

Using Code View in your editor window is difficult at first but when you find a video that is not on YouTube (which most plugins are written for) you will want to understand how to use Code View to insert the code.