Yes dude that is your drain plug. If the liquid on your passenger side is coolant then yes you will need to replace the heater core, they cost about $90 at the dealer and takes me about 4 hours to replace. Couple of days for someone that has never done it. Have to take out the dash, drop the steering wheel column, that steel bar that runs across and other crap, like loosen the wire harness off that steel bar and pull it back, not hard but a lot of stuff to take off.
If the liquid is just water, then you are lucky dude, just take an air hose and blow inside that dime size hole to unclog it.
This is what t looks like while in the process of replacing the heater core. See that square box?? The core is behind that.
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