When I open Central Administration am I supposed to see all the sites that have been created on my intranet? Our Sharepoint intranet connects to the default 80 port (http://bmashpt/pages/default.aspx). When I open the Central Administration program it opens to http://bmashpt:26272/default.aspx and I do not see any of my sites. Is this correct and if it isn't how do I change it?
In 2007 Central Administration is broken into two main sections; Operations and Application Management. Operations will all you to manage the farm / system level configuration. Application management will allow you to provision and manage specific applications like your Intranet. An application can contain one or more site collections.
If you only have one site collection then it is likely that the majority of the administration could be done at the Site Collection level on the site. If you have 100s or 1000s of sites, then there would likely be some administration that takes place in Central Administration.
Bob - Central Admin is a "back office" area for making configuration changes for your sites -- such as search and backup to name a couple. To see all of your sites, visit the site that is on port 80 and take the link to "View all site content". You will have to keep drilling down to see all of your sites this way. There is a nicer navigation pane to see all of the sites if you have MOSS 2007 and not just WSS 3.0. After the initial configuration, you will not have to go into Central Administration very regularly. It is normal to not see your sites from Central Admin.
Central Admin is home to administration tasks that are larger than sites. As @Mike-Oryszak said, one area (Application Management) focuses on web applications, and another (Operations) on the whole farm. It also provides navigation to your Shared Services, which may include (depending on your SharePoint edition) index and search, profiles, mysites, and more.
If you are looking in Central Administration for a list of all site collections, take a look at Application Management, and find the Site Collection List link.