Wordpress: Allow visitors to get email notification / rss feed

I am assuming this should be easy... But I do not know wordpress that well and I do not have the time to figure this out.

We have a new and standard blog installed on our own domain on a shared Linux server. Here is the blog:

<[url removed, login to view]>

Nothing special here!

What we want is?

1) a link in the sidebar that says words to the effect of 'subscribe for email notification here'

2) how do we get visitors to actually subscribe to or join the blog so we can see their email addresses? I don't mean everyone who swings by, just the ones who actually choose to subscribe. Or is this not possible?

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