WordPress administrators no longer need to rely on using a stand alone FTP client to edit, delete, upload and create files and folders.
MyFTP is a file management Plugin for WordPress that enables a blog administrator to (much like an FTP client) navigate files and folders on the server where their WordPress installation is hosted. The administrator can then edit, delete or upload files on the fly from within the WordPress administration panel. It is also possible to create new folders and directory structures.
You can find more information regarding this powerful plugin HERE