Lights will not come on after taking out wall outlet
Call a licensed electrician, and leave the breaker off until they get there.

Smoke from the outlet means something got too hot, which means there was an overcurrent situation (e.g., a short). Your breaker did its job by tripping, but you should not turn the breaker back on until you have corrected the cause of the overcurrent. If you don't, the breaker will just trip again (best case), or the wires will heat up again and cause a fire, burning the house down (worst case).

Given your lack of experience with the electrical system in your house, your best course of action is to call in the pros.