By default, there are two templates associated with blog posts: Home which defines the display of your "posts" page, and Single which defines how a single blog post is displayed. You have only one "Home" page template. You can have multiple templates of type Single. If you have multiple, then when you create a page, you can select which template you wish to apply.
In addition, there are specific blocks that you add to these templates that allow for dynamic content display. These are listed under the THEME heading in the add block panel. They include: Post Featured Image, Post Title, Post Excerpt, Previous Post, Next Post, and Query Loop.