It's best to open the bleed nipple on the brake you are changing before pushing back the piston. If you dont, the fluid is forced back up the system and can flip the seal on the master cylinder.
As long as you make sure the brake fluid in the reservoir does not go below the minimum mark you wont have to bleed the whole system, just the brakes you've been working on.
I use one of those single-handed bleeding kits, they cost less than £10 and make life a lot easier.
Again, make sure the fluid stays well above the minimum mark in the reservoir or it will draw air in and then you will have to bleed the whole system.
Brian.J., August 2008