If f and g are continuous for all real x, then
f + g, f - g and f*g are continuous for all real x
f / g is continuous for all real x where g(x) ≠ 0.
If you know these properties are true pointwise (i.e. continuity of f and g at x=a implies continuity of f+g, f-g, f*g, and f/g for g ≠ 0 at x=a) then it follows immediately that they are true for continuity for all x, since "f(x) is continuous for all real x" is just a shorthand way of saying "f(x) is continuous at x=a for every real number a".
You can prove the properties formally with an ε-δ proof, but it's easier to do it with limits if you have proved the corresponding properties for limits. I won't go into the hairy details unless you want them.
If f(x) = g(x) for x ≠ c, and f(c) ≠ g(c), then f and g can't both be continuous at c, but one of them can be.
It's pretty simple to show that they can't both be continuous at c. Suppose that they were both continuous at c. Then we know that
lim (x->c) f(x) exists, call it L
and also lim (x->c) g(x) exists, call it K.
Since f(x) = g(x) for all x ≠ c, we must have L = K.
(If this isn't clear to you, we can prove it formally with an ε-δ proof as follows: Suppose L ≠ K, and let ε = |L-K|/2. Since both limits exist, there is a δ1 such that 0 < |x-c| < δ1 => |f(x) - L| < ε, by definition of the limit; similarly there is a δ2 such that 0 < |x-c| < δ2 => |g(x) - K| < ε. Choose δ = min{δ1, δ2}. Then 0 < |x-c| < δ => |f(x) - L| < ε and |g(x) - K| < ε, and f(x) = g(x), so we have
|L-K| <= |L - f(x)| + |f(x) - K| (triangle inequality)
< ε + ε = |L-K|. So |L-K| < |L-K|, a contradiction. So we must have L = K.)
So lim (x->c) f(x) = lim (x->c) g(x) = L.
But since f and g are continuous at c, f(c) = lim (x->c) f(x) and g(c) = lim (x->c) g(x), so f(c) = g(c) = L. But this contradicts the assumption that f(c) ≠ g(c). So f(x) and g(x) cannot both be continuous at c.
It's easy to find examples where one of the functions is continuous. Just take any continuous function for f(x), and let g(x) be the same as f(x) except at one point. For example, let f(x) = 0 for all x, g(x) = {0, all x ≠ 1; g(1) = 1}. Then f(x) = g(x) for all x ≠ 1; f(x) is continuous but g(x) is not.