The Buddha taught about rebirth and references to it can be found in many suttas. I think that most Buddhists probably interpret it literally and some prefer to interpret it as being used primarily as a morality teaching. As far as the word 'reincarnation' is concerned, that comes from Tibetan Buddhism and 'reincarnate' lamas. When a lama dies it is believed that his 'reincarnation' can be found and will continue in his place at a monastery or wherever after being re-taught the necessary teachings from as a small child onwards. Personally I don't hold a position about rebirth one way or the other because its not relevant to my practice in the here and now.