How to get a precise reading from pipette?
The bottom of the meniscus (in the middle) is your measurement point and should lie on the line that you are trying to read.
This is completely dependent on the type of pipette that you are using. Some pipettes are designed so that you just leave the last drop and some you are supposed to just touch the tip of the pipette to the surface of what you've dispensed already to get the last bit. TD pipettes stand for "to deliver" (leave the last bit). TC pipettes stand for "to contain" (take the last bit out).
Again, this is dependent on the pipette. If you have a classic bulb pipette then you shouldn't hold it by the bulb as it is the weakest part and that's how you end up with glass in your hand.