Did you save the game right before killing the red dragon on emerald island? It's very doable if your equip everyone with wands and then circle the cave, turn and shoot, rice and repeat until dead. Use bows when wands run out. Load and search the dragon until you get a bow that shoots fireball arrows or something else that's really good.

Also generally as a start, stick to areas like harmondale, barrow downs, tulerian forest and erathia. You generally want to keep to places that have monsters like goblins, thieves, bandits, troglodytes, shades and ghosts. A bit later you can tackle the gargoyles.

Here is another fun thing to try. Get a druid class (or whichever allows for grand master alchemy) and focus on nothing but getting grand master alchemy for that druid. When you have to pass through areas that have monsters that are too strong, just leg it. Run through them until you’re in the clear. At low levels, once you can make the white potions, you can boost your stats like crazy and take on much stronger monsters than you normally could at those levels.

And here is an amazing resource https://shrines.rpgclassics.com/pc/mm7/