My iPhone 8 charing port does not work; is the MagSafe charging pad compatible with the iPhone 8?

Potentially, yes.

Ref: How to wirelessly charge your iPhone - Apple Support

Yes and no. Magsafe was designed for iPhone 12 and 13 phones. Its advantage is it connects perfectly by magnet to the specific spot on the back of an iPhone 12 or 13 for perfect alignment and charging. While you can use a MagSafe charger, you'll need to position it precisely where the charging coil on your iPhone 8 is in order for it to do its job.

A couple of thoughts. It's likely not a good thing your charging port on your phone doesn't work and it should honestly be looked at for service issues. And you can buy a regular Qi Wireless Charging plate or stand for an iPhone 8, which will work fine.