CMS Made Simple Forums

I need to create a way for people to post blogs without letting them anywhere near my admin panel. Would this be possible?

If not is there some sort of external blog that I can put on my home page?

There may be a way to do this but I couldn't tell you where to begin since I'm no dev.
However, you could use a service like blogger.com (external) with a module like RSS2HTML to display the blog on your CMSMS site, keeping the 2 separate.