First thing to understand with PWM is the difference between the 'Simple' and 'Advanced' Options. If you are still looking at the 'Simple' options, click on the 'Advanced Options' link (in blue), or just click 'View' > 'Advanced Options'.
You can use the settings for 'Defaults' for any sites that you will use PWM generated passwords for. The current URL is automatically calculated/used, but this will only work for sites that you use the PWM generated password.
It is strongly recommend to create/use a Custom Account for important/critical sites, like banking sites, etc. First, create a Group, then create the Custom Acocunt under the corresponding Group.
For help with how to define the URL pattern(s) to match on for an Account, click the 'Pattern Help' button on the URLs tab.
Once you have created a Custom Account for a site, you can continue to use your existing password by manually adding it in the 'Advanced Auto-populate' tab. This is much easier than it looks the first time you do this.
Although it does need updating, the Online Help Manual is very - helpful - and almost a requirement for anyone new to Passwordmaker.
I do strongly encourage you to stick with it - once you get the hang of it, it will quickly become indispensable.