Venezuela had lost to Honduras, South Korea, Japan, Chile and Bolivia prior to Wednesday's clash but the South Americans finally ended their winning drought at Estadio Olimpico Metropolitano in San Pedro Sula.
Figuera and Farias put the result seemingly beyond doubt in the second half after Blanco opened the scoring in the 21st minute, though Honduras threatened a comeback with two goals in the final 10 minutes.
It was Venezuela's first win since September 2013.
In the first match of their double-header, Honduras enjoyed large spells of possession during the early exchanges.
However it was Venezuela, who broke the deadlock against the run of play in the 21st minute
Romulo Otero drove towards the byline before squaring the ball across the six-yard box to Blanco, who side-footed past goalkeeper Donis Escober.
Honduras almost drew level 13 minutes later when Alain Baroja fumbled the ball but Roman Castillo was unable to release a shot in time.
Castillo was a constant threat for the Venezuelan defenders and came close again to equalising a minute into the second half but his shot sailed over the crossbar.
Honduras were punished for their wastefulness in front of goal yet again, with Figuera doubling Venezuela's lead five minutes into the second half.
Figuera scooped the ball over Escober, having been played in by team-mate Argenis Gomez.
The home side continued to dictate the tempo but it proved to be in vain as Venezuela netted their third goal 13 minutes from time.
Oteru, who set up the first goal, weaved his way past three defenders before crossing the ball to the near post where substitute Farias made no mistake from close range.
Honduras finally managed to turn their possession into a goal 10 minutes from time, with Antony Lozano poking the ball beyond Baroja following a shot from outside the area.
And centre-back Juan Montes pulled another goal back in the 90th minute to ensure a nervy finale.
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