Clarissa, I was in your shoes a few months ago, so I understand your confusion. Here's some info to help get you going in a direction that will help your plant.

• SOIL. If you want to grow succulents, you'll need to invest in a more appropriate potting medium. The easiest way to begin (and what I do) is to mix Cactus, Succulent and Palm Mix (C&S) with Perlite. You can get both at Home Depot or Lowe's for around $15 total. My mix is about 60% Perlite and 40% C&S. This will allow water to drain well from the pot. Succulents hate wet feet (roots sitting in wet soil for a long time). TONS of threads in this forum about potting mixes.
• POTS. Speaking of pots, you've already heard about the importance of using a pot with drainage. Terra cotta (clay) pots are best because they are porous and absorb some of the water. However, any pot with adequate drainage will do. You can even reuse the plastic pot it came in if you're in a pinch, just wash it out first. A cache pot is a decorative container for a plant and its pot. That's what you're doing. I think it's okay as long as your plant pot has drainage and you take it out of its cache pot when you water it. Let it completely drain before you place it back in the cache pot. I usually wait until the next day, just to be safe.
• SUN. You've already made a start by asking for the identification of your plant. Now you can look it up to find out how much sun/light it needs. If it needs full sun, that means 6 hours of direct sun, preferably in the morning when the rays are not as hot. When you bring a plant home, it's best to slowly acclimate it to full sun. Start with an hour a day for a few days, then 2 a day, then 3, etc. This is something I have not mastered as I do not have access to morning direct sun, only afternoon when it's hottest. After I realized some of my leaves were sunburned, I've been observing closely and monitoring their exposure to direct sun.
• WATER. This can be a little tricky. Frequency depends on the kind of succulent you have, the climate where you live, the amount of sun your plant gets, and the kind of potting mix you use. There are lots of threads on this forum with more detail on this subject. I wait until my soil is bone dry, then I wait a couple of days more. I stick a chopstick into my pot watching for it to come out dry and clean. If it comes out damp or with a lot of soil stuck to it, I don't water. You can use a chopstick, skewer, or even your finger to test for moisture.

Here's what I do when I bring a new succulent home:

1. Prepare a pot with potting mix so it's ready to receive my plant.
2. Remove the plant from it's pot. I try to do this within a day or two after bringing it home. More likely than not, it's potted in inappropriate soil.
3. Remove ALL the soil from around the roots. Take your time. You don't have to treat them too delicately, they're pretty hardy.
4. Now that the roots are clean, I place the plant in its new pot. I fill it to top rim with potting medium. I like to add a top dressing (aquarium gravel, pea gravel, etc.) as it gives a nice finishing touch. However, I save this until after the first watering as a reminder it hasn't been watered yet. If the plant needs a little help standing up, I place a rock around the stem to hold it up.
5. I DO NOT WATER YET. The advice I got on this forum advises against it. So I wait 3-5 days to give it a first watering. When I do water, I give it a thorough watering, think drenching, until water begins to drain from the bottom. I use a saucer to collect the drainage and continuously dump it until the draining stops. Then I set the pot on a dry saucer for a few hours. If there's no more drainage, I remove the saucer and put the pot back in its place. This is how I water all my succulents after checking for dryness.
6. I live in an apartment with a west facing balcony, so I only get direct sun in the afternoon. I also live in hardiness zone 7a, which is hot and humid. I place my new plant in an area considered bright shade. It get lots of light, but no direct sun. If it's a plant that will want direct sun, I gradually introduce it. It may be three weeks before it makes its way to the direct sun area, which means several hours of sun per day.

Sorry this turned into such a long post, but these are the things I needed to know when I started.

Good luck!