Pages and News Items contain the same fields, and therefore are created and edited in the same way. The main differences being how they are using throughout the site.
The title of your content will display in an h1 (Heading 1) tag at the top of the content. The title for news items will also be used in the Recent News list on the homepage.
This field should only be used for Pages. If you are adding a page and need it to display in the menu, enter the title of the page as you want it in the menu (might be shorter than the full page title), and the parent item. The parent item is the item that you page "falls under." If you are creating a new top-level menu item, the parent item would be "Primary Links." Otherwise, select the page for which the new page will display under.
This is the main part of the page. You will create your content here using the editor.
Most of the common tasks that you will be performing are covered well here: FCKEditor - User's Guide - Common Tasks
This field should not be changed from Full HTML.
The attached images field provides a convenient way of adding 1 image to a page or news item. Selecting an existing image or upload a new one. The image will display at the top right of the content with the text floated around it.
The revision information field will be used rarely.
URL Path Settings
Most of the time, you will want the default "Automatic alias selected" unless it was not selected before when editing a page. If you are creating a subpage, you may not want to use an automatic alias. For example, if you wanted to created a subpage for the News section called Other News, you would probably want to create the following alias: "news/other-news". If you left automatic alias selected in that case the url would simply be sri.osu.edu/other-blogs.
Another field that is most likely unnecessary to use.
The most important checkbox here is the one for Published. If an item is a work in progress or needs to be disabled but not deleted, uncheck this.