Welcome to the first town! (Notice the rather lovely music: "Tenderness in the Air"). If you don't already know, it's recommended that you talk with everyone if you are ever to succeed. So loosen those lips and you can learn several interesting tidbits, such as: A machine is responsible for tapping the crystal's power and making it more powerful; The crystal itself seals powerful creatures in the Canal, who only attack women for some wierd reason; Another meteor besides Tycoon Meteor fell to the west, beyond the mountains; and, You can use the Canal to reach the Kingdom of Walz and its Crystal of Water to the east.
There is also a helpful old guy who will take you to the House of Learning where they teach you about jobs, the ability system of FF V and other basic stuff. This is a great place for beginners to check out. Be warned, if an old man you don't know ever tells you to close your eyes and follow him to the House of Learning, then run away very fast.
Faris and company head into the tavern for some refreshments, so follow them. Once inside you'll see a troupe dancing on the stage (you can find a peeping tom in the lower right corner). Have a seat on the stool closest to the stage and the dancers will perform for you. Their act ends with all three of them getting REALLY close! Pull your act together and notice that the stage is now empty - take advantage of this fact and check out the piano (one of many scattered throughout the realm of FF V). You'll play a single scale very badly and jump up and down for your miniscule accomplishment.
Once that is done head upstairs to check on Faris. The scene describes itself. The only other building of note here is Zok's Mansion at the back of town. Zok is responsible for building the gate at Torna Canal, but he's not home right now... oh well. Next on the agenda is to visit the weapon/armor/magic shops. (I'll list the items in order of importance). Buy a Broadsword for Galuf, 3 LeatherShileds, 2 Leather Caps, and some magicks. You won't have enough for all of the magicks, but don't worry: you can't even use them yet. Do pick up Cure though.
Lastly, you should go on a treasure hunt. The House of Learning has six of the eleven items, so stop there first. The two treasure chests should stand out, but also be aware of the other containers as the scholar points them out (the urn, the barrel, and the box - be sure to keep your eyes peeled for these throughout the game and check each one: I may not remember where everything is, so do some exploring yourself and have some fun!). There's another bit of treasure upstairs, but you'll have to fight for its contents, and it's a really hard battle too!!
Back outside, head all the way to the right and follow the trees up to a barrel with some gil. More barrels and boxes are found right in the middle of the town - check them to find two more goodies. Lastly, there are two more things to be found behind Zok's House, one next to a waterwheel and the other in some grass.