What have we here?
Centuries ago, people wrote journals (or "logs"), which often included many of their most personal and intimate thoughts. The recent invention of the internet (or "web") has given people an opportunity to share these journals with the world. This wonderful idea demanded a wonderful name, which was created from the mating of the medium and the format: the blog (or "weblog").
"Blog". What a word. Let it jump from your throat and soar past your tongue. "Blog". Like the growl of the wordless blobby monster which is aptly rendered "Blargh!" I am blog, here me roar. You hear?
How could I pass on this medium, this format, and this name? Here I am, Blar, presenting you with Blargh Blog. Welcome.
Some of you out there in the Land of Web may complain that this is like naming a book after the word "book". But there is a difference - a book has to be written and about something before it has a name. But not a blog! All I had when I named this blog was me and the idea of starting a blog. And since I'm not one of those self-centered people who goes around naming things after himself (indeed, I'm more likely to name myself after things), what else did I have to go on? Please, do not judge my young and humble blog too harshly.
Besides which, there actually have been books named after the word "book". And I know that at least one of them has been pretty popular. So what's the big deal?