Yes, WordPress supports any video or audio embed you want to paste in to your blog post or blog page.
Depending on your theme, you can enter in just the URL, or you can select the Embed code and paste that into the body of your site.
All of our themes support automatic Responsive automatic resizing of your videos.
Note that unlike photos, you don’t upload the raw video or audio feed directly into WordPress – you use another third-party website provider like YouTube, Vimeo or Wistia for video, or SoundCloud for large audio files. Then you take the URL or embed from the uploaded item on those services and paste it into your WordPress website.
Small audio files can be uploaded right into WordPress’ media library and played with the built-in WordPress audio player. See an example audio embed in the homepage widget on one of our Client’s sites here: JohnnyFireseed.com