Might and Magic VIII hints

Immediately pay to have the Bow skill taught to all party members
who can learn it. Next, buy them all bows; large volleys of arrows
cut your opponents to ribbons.

Keep backing up away from your enemies as you fire off spells and
arrows. This will allow you to get many shots off before they
close the gap and enter melee.

One trick for beating overwhelming odds in dungeons is to hit the
Combat button before entering the dungeon. This way, in Combat
mode, you'll enter the dungeon with the action paused. Take a look
around, kill a few enemies, and turn and exit the dungeon when
you're hurt or out of mana.



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