You may have some confusion on the difference between posts and pages.
Your blog stories would be Posts.
Pages are for more static kind of content such as your contact or about page.
In reference to running WordPress as a blog, think of your Posts as articles in a newspaper(where stories are date-related). Whereas, think of pages more like a fictional book where the content stays the same(basically).
Many blog themes are set up to display your latest Posts on your home page. When you create a Post, that becomes the most recent Post, thus, the first Post on your home page.
Other themes may have options for your home page, and you can alternately select any existing Page to be your home page if you want(In the dashboard Read settings).
Can you only have one post page and the rest just have to be pages?
That is just the way the home page is set up. You can create different categories for posts and have those displayed on their own pages. (I use the word pages here meaning a theme archive page)