Installing 2 Separate Blogs on Website

Hi everyone:

I have successfully installed WordPress on a website. What my question is .. can you install, or do you need to install, or how do you install/have two separate blogs on a web site.

For example, the first I installed is installed and a separate URL from the main page URL, but I want to be able to have a totally separate blog hosted on this same website, not as a separate URL .. eg., http://www.____.com/blog as well as the separate one I’ve already set-up.

Is this do-able?

Please Help!!