How to fix a hole on drywall?

They have these wonderful things called wall patch, it is sort of like a screen that you put over the hole and plaster over it,it's very hard so you can't tell that there was a hole there. It comes with sand paper to smooth after drying, any hardware store carries it, home depot..walmart etc. Also about the paint take some off of the wall, take it with you and have them match it for you, home depot or any hardware store !! Good luck....