How to change the element look

Hi everybody.
I have premium template – some of them …..
Some elements of this template are not exactly what i want and I would like to modify them.
When I use “Inspect Element” in Google Chrome or FireBug in Mozilla – I can see exact HTML construction what needs to be changed. But definitely WordPress uses php file structure and to change this particular element I need to open some php file in theme.
So my question is – is it any way to find exact php file where i have to change some code to change the element look on my website.
Thanks in advance.