I bought a funny little mint plant weeks ago, and have managed to keep it alive, thereby beating my previous record

Anyhoo, I don't use it as often as I thought, and it's starting to look as if it's squashed in its little pot. And it also has some purple flowers budding at the top. My questions are -

1 - What are the purple flowers?
2 - Is it just a case of buying a bigger pot, putting in some potting mix, loosening the dirt currently in the pot and putting the whole plant into the new pot?