Yippeeee!! I finally managed to add a working facebook like button to my blog posts with the help of the following links:
http://www.pathikshah.com/blog/how-to-add-the-facebook-like-button-to-wordpress-blog/
http://www.webcheatsheet.com/php/get_current_page_url.php
I was facing a problem with the general way used for wordpress as I use static links for my permalinks. So the second link helped me out 
Edit: I stumbled upon another blog and got an awesome solution
http://www.labnol.org/internet/add-facebook-plugins-to-website/13505/
Raja
4 months ago
Good. I’ve been using some similar buttons for some time. The buttons on this blog look better, though.
Aditya Deorha
3 months ago
Hey,
Just stumbled onto your blog and I must say that the layout is so awesome! Never seen another blog which has so many articles so compactly placed.. And now of course you have the like button
Time to go through your other posts!
Cheers!
Aditya