Wordpress is a proper openid provider, which means letting your users log in with their wordpress account is very easy. First, make sure openid registration and login is enabled in Configuration Center -> Settings -> Users & Security
Now, when logging in, use the "Log in with OpenID" button, and select Wordpress. You will be asked for your Wordpress username, and taken through Wordpress authentication. When that completes, The Bug Genie will sign you in.
Any users registered through Wordpress (or any other openid provider) can be managed via Configuration Center -> Users & teams, just like regular users.
If the Configuration center setting requires re-entering your password, users must first set a password after registering before they can use the configuration center. This is done from each users account page, or from the configuration center by an admin.