South Figaro Cave
You may be a little beat up after the encounter with the M-TekArmors, but don't worry, there is a recovery spring in the first map in the South Figaro Cave. All of the enemies in here have a weakness to Fire, but they're even weaker against Edgar's AutoCrossbow, which doesn't use up any MP. It should take out anything but a Bleary in one hit, and leave even those near death. Locke can occasionally Steal a Remedy from a Crawly, which is quite nice (and worth 500 GP).
Once again, the contents of the treasure chests here will change as the game progresses. The Cavern at the top of the northeast stairs holds a Tincture which changes to a Thunder Rod a bit later. This chest changes again, to a Hero Ring, in the World of Ruin. It's probably worth passing up the Tincture for either of these treasures.
The chests in the Central Cavern are less dramatic. You'll find another Tincture to the east, which will be replaced in the World of Ruin by an Ether. Ethers are rare, but not so dramatic that you can't afford to miss one if you need a Tincture now. The southwestern chest holds a Fenix Down that changes to an X-Potion in the near future. X-Potions are quite rare, so this one may be worth waiting for.
To find your way to the eastern exit and the path to South Figaro, simply head east and south in the large central cavern. The southern stairway is your goal. It leads to a small upper-level switchback and eventually the exit. Note that the next time you enter this area, the encounters will have changed, so if you want to make sure every Rage is available, make sure you encounter everything at least once.
World Map South Figaro Area
It's only a short walk east to reach South Figaro, but a number of new enemies lie in wait on the way. Rhodoxes and GreaseMonks are vulnerable to Edgar's tools (the AutoCrossbow and Bio Blaster, respectively), but the Rhinotaur shouldn't be taken lightly. It will counter Terra's magic with a powerful Mega Volt attack and has 232 HP and a double-power special attack. It might be worth trying to steal a Mithril Claw from one, as it is a nice early upgrade for Sabin once he joins.
The forests in the area feature the same set of monsters as the plains, but in more dangerous combinations. Rhinotaurs will appear alongside other creatures here rather than strictly alone. It's wise to take out the weaker creatures first and concentrate on the Rhinotaur last in these situations, but be careful of your magic use. Of course, you can also easily avoid walking through the forests entirely.
South Figaro is to the east, along the southern coast. There are a few other points of interest here: Duncan's Cabin can be found north of town, and the west entrance to Mt. Kolts is to the northeast. You don't actually have to go to South Figaro right now, though doing so will help clarify your goals here and let you name Shadow. If you just want to get to the fighting, skip along to the Mt. Kolts chapter.