hey ronald,
sure, I'll try to help out.
a manual update only means that you would have to upload and install the easyblog package as you would do with any other joomla extension as well in your joomla backend -> extension manager. you could also do an uninstall of your current easyblog version first (some recommend this so you don't have unneeded old leftover files) before installing, but both ways (with or without uninstall) would work.
your existing posts are stored in the database so you won't lose them (even with an uninstall) but of course if you made some customizations on the easyblog files itself these will be overwritten with the new install.
usually it's a real painless process, however always do a backup first! so in case something unexpected wents wrong you can safely go back to a working system. hope that helps