Potion

Restores a little HP.
Price 60 gil (40 gil on Easy)
Value 30 gil (20 gil on Easy)
Sold In Crescent Lake, Desert Caravan, Gaia, Pravoca, Cornelia, Elfheim, Onlak
Restores 16–32 HP to one character.

The Potion is the staple healing of Item FF1, largely because it is the only healing Item of FF1. That 16–32 HP seems decent enough at low levels, but late in the game an entire stack of 99 Potions represents just a little bit more than your whole party's total max HP in healing. Plus, using 50 Potions after a tough fight is boring. These won't replace your White Mage, but they will let you last longer in dungeons. How much longer depends on how far you are in the game.
Compare Potion to other Items
Shops: Where Potion is sold – 7 shown
Map Shop
Cornelia Items
Pravoca Items
Elfheim Items
Crescent Lake Items
Gaia Items
Desert Caravan Items
Onlak Items
Treasures: Containing Potion – 10 shown
Map
The specifics of where this treasure can be found
Notes
Matoya's Cave Found in a chest in Matoya's room
Matoya's Cave Found in a chest in Matoya's room
Terra Cavern B3 Found in a chest in the northeastern room (guarded)
Flying Fortress 3F Found in a chest in the northern room
Temple of Chaos Found in a chest in the northwestern treasure room
Ice Cavern B1 Found in a chest in the S-shaped western room
Mt. Gulg B2 Found in a chest in the southwest treasure area in the large room
Mt. Gulg B2 Found in a chest in the southwest treasure area in the large room
Flying Fortress 1F Found in a chest in the western room
Terra Cavern B1 Found in the eastern chest in the southwestern room (guarded)
Antidote

Related

HEAL Potion

Price 60 G
Sold In Crescent Lake, Gaia, Pravoka, Coneria, ElfLand, Onrac
Restores 16–32 HP to one character in combat, or restores 30 HP to one character outside of combat.

HEAL Potions and magic are the only ways to restore your Warriors' HP outside of town. HEAL Potions are significantly more effective (and predictable) outside of combat. As such, they are best used between fights to bring weakened Warriors back up to fighting condition. It is a good idea to make sure a HEAL Potion will have its full effect before you use it.

You can hold 99 HEAL Potions, for a total healing amount of roughly 3,000 HP. This may sound like a lot, but attacks that hit the whole party can add up very quickly. If you start running low on HEAL Potions and CURE Spells, it is wise to return to town to rest and restock.

Potion

Price 50 gil
Value 25 gil
Spell Cast Heal 1 (Self)
Sold In Altair, Bafsk, Fynn, Gatrea, Paloom, Poft, Salamand, Mysidia
Carried By Gordon, Josef
Dropped By Death Flower, Goblin Prince, Poison Toad, Queen Bee, Soldier, Vampire Thorn
Restores 30–60 HP to the target. In combat, as with all healing Items, you can only use a Potion on yourself. You'll find a ton of these, but it's usually better to heal yourself with Spells, so your stats advance. They aren't worth much, but if Potions start cluttering up your inventory, don't hesitate to sell them off.

Heal

Sprite
Power 30 Accuracy +100%
Type Special Magic
Effect Restores HP to the target (used for healing potions)
Used By Borghen
Cast By Items Potion, Hi-Potion
It's too bad Heal isn't a Spell, because it's way better than Cure. Since it's only used on Items (the Potion and Hi-Potion, specifically), you'll never see any Spirit bonus to healing—it's a straight 30–60 HP per level.

Potion

Item Type Anywhere
Price 150 gil
Value 75 gil
Spell Effect Recovery

Potion

Game Name Potion
Price 30 gil
Value 15 gil
Effect Restore target's HP
Spell Potion (targeting one)

Potion

Type Special Magic
Effect Restore target's HP
Reflectable No

Tonic

Recovers 50 HP
Price 50 GP
Value 25 GP
World of Balance Shops Aged Man's House, Figaro Castle, Mobliz, Narshe, Nikeah, Phantom Train (v2, v3), Returners' Hideout, South Figaro, Thamasa
Tonic restores 50 HP to the target.

Tonics are your basic healing Item early in the game, though they become obsolete pretty quickly. A huge number of Monsters, especially in the World of Balance, have Tonics for Locke to Steal.

Potion

Type Medicine
Description Restores HP by 200
Value 50 gil (75 gil with the Sell-High menu ability)
Used in Battle Yes
Menu Effect One party member

Potion+

Type Medicine
Description Restores HP by 400
Value 100 gil (150 gil with the Sell-High menu ability)
Used in Battle Yes
Menu Effect One party member

Potion

Type Consumable
Description Restores a small amount of HP to all allies.
Chapter 1
Retail Network Unicorn Mart
Availability Chapter 1
Price 50 gil
Value 25 gil
Potions restore 150 HP to each party member. They are most useful in the early game, before you have access to the Medic Role. The healing seems to have a lower cap of 5% of your max HP, meaning that the base 150 value will increase once a Character has more than 3,000 HP.

Potion

Description Restores a small amount of HP to all allies.
Price 160 gil
Value 80 gil

Potion

Description Used when HP gauge drops below 20%. Restores 30% of HP gauge.