Answer
$x=-\displaystyle \frac{7}{16}$
Work Step by Step
For $x\gt 0$ and $a$ a positive constant other than 1,
$\log_{a}x$ is the exponent to which $a$ must be raised in order to get $x$.
Thus, $\log_{a}x=m$ means $a^{m}=x$
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By definition, $\log_{8}(2x+1)=-1$ means
$8^{-1}=2x+1$
$\displaystyle \frac{1}{8}=2x+1$
$\displaystyle \frac{1}{8}-1=2x$
$\displaystyle \frac{-7}{8}=2x$
$-\displaystyle \frac{7}{16}=x$