Template hierarchy like Wordpress I am new to Drupal. Is there any template hierarchy structure to output different section of durpla like node, page, vocabulary, block etc. If so how can we use that.

E.g. In WordPress we have a template hierarchy to output page, posts, category, custom post etc.
Yes, Drupal has a modular, hierarchical template system. Each of the components you mentioned can be themed individually. The main html template includes the page template, which includes other templates, that include other templates, and on it goes.

See About overriding themable output for the how/what/why.