The Bugs web is intended for collecting reports of issues, and then tracking progress towards getting those issues fixed.
Issues are structured topics, where forms are used to store a number of fields that contain data about the issue.
The main entry point for examining the list of issues is AllOutStandingItems, which can be used to perform general purpose searches over the database.
You can subdivide the web into different areas using the AppliesTo field, and provide each area with its own search topic.
The reporting form has extensive help information associated with it, so when you create a new issue you get help suggesting how it should be used.
You create a new bug by clicking the "Create New Item" link in the left bar.