Yes! The specifics depend on whether you're using a hosted Wordpress blog at wordpress.com, or if you are running the self-hosted kind of Wordpress blog (wordpress.org).
If you're using the self-hosted version (wordpress.org), then you should be able to use all of the standard chat snippets. If you want to use embedded chat boxes, you will probably need to install something like the Wordpress sidebar IFRAME widget.
Here is an example of a wordpress.com blog using the above approach. In this example, an image of a chat box is used as the thing that the user clicks on to launch the real chat box.