Drag & drop the clip on timeline.
Click on titles tab.
Click on basic
It will open basic titles list.
Drag & drop the title on title track on timeline.
Double click on it and edit it in preview window.
Type the text which you want as a title.
Drag & drop it where you want it to appear on screen.
In clip editing section click on text tab.
From here you can change the color, font and size of the title.
play it in preview window to check it.
Same way you can edit other titles.