Editing the Posts Page

https://codex.www.ads-software.com/Template_Hierarchy

try index.php

if you only need to change the formatting, try to edit style.css

I would like it to show 5-10 posts with a limit on how long each of them show for…you know what I mean?

What I mean by that is like I would like each post to be a max of like 500 characters or something. That way its not like 5 pages long.

consider to use the ‘more-tag’ to limit the posts’ length;

https://codex.www.ads-software.com/Customizing_the_Read_More

or try to find the_content() in the code if the posts page template; and change it to the_excerpt()

https://codex.www.ads-software.com/Function_Reference/the_excerpt

– be aware, you will lose any images and formatting for the shortened content.

as your theme seems to be based on artisteer, have a look at their forum https://www.artisteer.com/?p=forum_topics&forum_id=13