Why are they called "blogs"?

Clicking around, I came across this, Get Blogging and I glanced over it, just a quick scan before saving it to my read-it-later thingamabob. One thing, though, did catch my attention,

Why are they called "blogs"?

Originally blogs were called weblogs: a log of activity that you wrote to the web. Peter Merholz jokingly split the term into two words to make it an activity: we blog. Ev Williams started to use it as a verb and a noun: to blog. And the rest is history.

I will be really honest, it never occurred to me to question why blogs are called blogs, it like, it just is; why would I question it?

Now I know...