You can format your text using the built in TinyMCE text editor. Below every text editing box you will see a link 'enable rich text' that when clicked should make your text window look like a word editor. You can use this like your word editor (MS-Word etc) to format text the way you want. Remember to change the Input Method to 'Rich Text' so that the format is preserved in your post.
Note that inserting a map or a Flickr photo wont work with Rich text mode. If you want to insert them, stick to Filtered HTML input mode with Rich text disabled.