Hide <something> if person is not loged in?

Hi again!
I have another question, I just installed wordpress for the first time today so of course im gonna be on here a lot :]
The question is… is there a way to hide certain aspects of a page/template based on user type (ie.guest/editor/etc.) Im assuming there is a way since it does that in the back end of the admin, but is there a way to do it in the front end, so when a guest comes in, it will give them like a simple login and some news?

Thanks