To do subscripts, you use the <sub> and </sub> HTML tag pair, and for superscripts you use the <sup> and </sup> tags.
Simply place the equation on your page using Insert > HTML Code.
So for the water example, here is the code I entered:
Water is H<sub>2</sub>O.
And for the Einstein example, I entered:
Einstein wrote that: e=mc<sup>2</sup>
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