Mina - One of the game's two main characters. Being the lead heroine, it should come as no surprise that she is good with magic and relatively weak physically. Her past is shrouded in mystery and she vows to find it out, blah, blah, blah...
Alec - The other (but no less stereotypical) main character. He's (gasp) not that good with magic, but strong physically. He's on a mission to find his lost dad or something.
Dirk - You'll find this dwarf guy wandering around in the forest. He'll join you and give you the Sluice Key. He's very weak physically, but very good with magic and starts out with three spells: Rope, Protect, and Terror. Apparently he's Old Rob's brother or something.
Lars - You'll find him in Daedalus Cave as the berserk robot Daedalus. Defeat him and he'll tell you that it's his destiny to protect Mina and he'll tell you his name is Lars (what??). Anyway...he's the strongest character physically, and he comes equipped with an Iron Ax, Iron Armor, and an Iron Shield. However, he can use no magic.
Alis - Yep, the very same Alis who starred in the original Phantasy Star. Her hair has apparently turned purple, and her eyes have turned green (apparently suspended animation does that...). Anyway, she turns out to be Mina's mother. Ain't that a kick in the pants? Bet you weren't expecting that one...and in case you couldn't tell, I was being SARCASTIC.
Elder - This is just the Elder. Just like any other RPG, he really doesn't do anything of value. Just tells you to go off on your journey and stuff.
Tailor - This guy appears in the intro. He tells everyone that he and Alec's father, Morg, tried to escape some mine or something, but only he could escape. This causes our heroes to set out in their adventure
Old Rob - Another citizen of Tedo. I guess he gives you some direction in your jouney and stuff. He's one of those old wise men who always point their fingers and call everybody "whippersnappers".
Morg - Alec's dad. You'll find him in the Daedalus Mine, have a short conversation with him and then never see him again (I thought Alec's whole mission was to save his dad??).
Alec's Mom - Visit her house in Tedo and she'll refill your HP and MP for free!
Popo - Some rich guy in Tinyville. He whines that he lost his map. Other than that, he does nothing.
Popo's Teacher - He like, taught Popo and stuff. If you try to enter the cave near Tinyville, he'll fight you as Lao-Tse. Defeat him and you'll gain the world map.
Ancient Ruins Guard - This guy refuses to let you enter the Ancient Ruins, but then says "oh, by the way, my weakness is Ouzo" or something to that effect. I think this wins the award for most obvious RPG puzzle in the universe. Give him Ouzo and you can pass.
Fortune Teller - You'll find her in the Gypsy Encampment. Pay mesetas to gain hints to help you in your quest. Be sure to do the Tarot Card reading as well, as you will receive the Kura Bracelet when you do.
Church Lady - No, not the Dana Carvey version...Visit her and she can revive dead allies and re-energize them if they're stunned. She can also save your game for you.
Innkeeper - She runs the various inns in the various towns. Stay at an inn to restore HP and MP
Item Guy - This guy will sell you items in all the different towns. You can also sell unwanted items and equipment here.
Armorer - This guy will sell your weapons and armor in the various towns.
Cablon - He's the stereotypical evil enemy that is so evil that nobody cares that he has no characterization. Use the Kura Bracelet, kill him, and get on with your life.