When you first enter Krizsan, walk around the walls before entering the city itself. In the Southeastern corner you'll find a secret entrance to Krizsan. Just to the west of the northern gate are a couple slimes. Along the Western wall, north of the Western gate is a secret room. There's a gold ring in here, and couple bars of metal. You want to take the Gold Ring with you, but make sure you don't sell it, as you'll need it to complete a quest in a couple minutes.
When you enter the city you'll find a couple of the people wandering around will talk to you. The man in the blue tunic is Denzil, and he'll tell you that the Avernites walk among us. I'm sure this will come as a complete shock to you ;-). There's also a soldier wandering around. This is Captain Maxine, and she knows you're Avernites. If you talk to her she'll tell you about City Hall.
Now enter the city through the Western Gate. Just to the south you'll find a boat making shop. Unfortunately, shipping in Valorim has been shut down due to the monsters.
At this point I usually head down to the water, and walk along the edge. There's a little house to the east of the docks. This is where Fellows lives. Ask him to tell your future, and then ask if he can really see into the Astral Realms. At this point he'll give you the quest to find his ring that he lost. That's the Gold Ring you just picked up. Give it to him and he'll give you a Lucky Charm as a reward. Fellows also sells Lucky Charms, and he'll identify your items after you ask what his real talents are.
Keep heading along the water towards the east, and when you get to the wall push against it at the waters' edge. There's a secret room here, with a crate containing a few coins and some Lockpicks. Just north of this passage is the Secret Passage into and out of Krizsan.
Wander up to the North Gate, and enter the barracks just to the east of it. The first room is the dining hall. To the west is the lookout room, and to the east is the barracks bedroom. There's a Strength Potion in one of the dressers that you can steal if you're so inclined.
To the west of the North gate is the Rowdy Oar. You can rest here if you want, but there's a much better inn in the Southeast corner of the city.
Just to the south of the Rowdy Oar is a small temple. Terry runs the temple, and she provides healing if you need it. To the east of the temple is Herron's shop. He sells food, and will tell you about Jinx, who just happens to be his wife. Jinx's shop is to the south of the temple. She sells some halfway decent weapons for this part of the game, and her prices for selling to are pretty good as well. Next door to her is Benedict. Benedict sells some halfway decent armor, and more importantly, he gives you a quest to find Dominique. Remember Dominique from the inn in New Formello? You have to go talk to Dominique, then return and talk to Benedict to finish the quest. He'll give you some potions as a reward.
To the south of Jinx's and Benedict's shops are some Storage rooms. The one just to the south of Benedict has a Giant Spider in it. To the south of that storage room are two locked rooms. The one on the west has a torch and a lamp, and the one to the east has two bars of Iron. To the south of those two rooms are two more rooms. The one on the western side has a rat running around in it. The one to the east is my favorite of the rooms, but you'll need either Dispel Barrier Lv.2 or a Piercing Crystal to get more than one tile past the door. Inside are some potion making herbs and a few useful potions guarded by a Guardian.
The two storage buildings to the west of these have some food in the southern one, and some tailor supplies in the northern one.
Head down to the Southest corner of the city now, to the Crusty Sailor Inn. In the middle of the common room is Gypsy, who's playing a guitar. She snuck up from Fort Emergence. Sitting at the bar is Dawn. If you talk to her enough she'll tell you about some weird lights she saw in a tower on the coast to the Southwest of Krizsan. The barkeep's name is Kessle, and she has a fair amount of information about what you can get in the city.
To the north of the Crusty Sailor is City Hall. When you first enter you'll find two sets of doors. Go through the ones to the east first, and talk to Cindy. She's trying to find some way to defeat the slimes. There are three locked doors here, and behind each one is a slime. I find it's best to pick the locks, rather than use Unlock Doors, since the spell will open all the doors, and Cindy will kill at least one of the slimes herself, depriving you of the experience.
Back into the entrance room, and then to the North. You'll find Mayor Arbuckle here, and she'll give you a quest to find the source of the slimes and destroy it. This is the beginning of one of the major quests in the game.
Head out the door to the west from this chamber, and you'll find yourself in a hallway. The first door is Valoda's room. She's a Job Dispatcher. When taking a job, remember that if you don't complete the job on time, you won't be able to get any more for quite a while. Be especially careful of jobs where you have to find a certain item or slay a certain monster and take it to someone. Unless you're absolutely certain that you know where you can find the item or monster in question it's best to not take that type of job.
The next room down the hall is Captain Argod's office. He's the Empire Liason for Krizsan, but the only thing important about him in this game is that he'll pay you 10 coins for each Unicorn Horn you bring him.
Exit the hallway to the west and you'll find yourself in an alley with a couple apartments. The northern Apartment will occasionally have a mage in it. This mage will sell you the location of the Ring of Endless Magery, one of the major artifacts of the game, for 5000 coins. This is a very wise investment. The mage wanders between here and the inn in Delan, and can sometimes be rather difficult to track down, so if you do run into him and have the money, buy the location off of him, even though you won't need it until later in the game.
The last thing of note in Krizsan is Falko. He's an archer standing on the platform in the Northwest corner of Krizsan. Once you've completed the Slime Quest he'll join your party if you want him. Now it's time to head off to that tower on the coast to complete part 2 of the Slime Quest.