Just put it on your cross bar.
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I can't get into the game to check the exact process but in the system menu I believe you'll find the macro section. Write your macro and then press x when the desired macro is selected to take it down to the cross hotbar. There was a full list of text commands in the beta forum but I'm not sure where to find this now. Anybody have a source for all text commands?
EDIT:
I'm in now :) So press Start then select System > User Macros. You have up to 99 slots for macros. When you have made one hover over the icon using dpad and press x on the control pad. Then choose set to hotbar. Again, I'm not sure where you can find a complete list of commands but try searching the forums.
Using a mouse. You click on the players name. Even in large groups.
You can also adjust your preferences to what names show up and how damage gauges are displayed. I've never mis-healed with mouse and correctly configured damage indicators.
If you are using keyboard+mouse, 'X' is default button for Click-Filtering.
When 'X' is pressed, your mouse click will only register on those options you selected in Click-Filtering option in Character Configuration > Control Settings > Target.
I am a healer, I keep 'NPC/Object' and 'Other players' on the list, so no problem for me to heal any player in FATE.
As for party member, I always use F(1 to 4).
As for monster, just rely on random Tab Target, because if there's a lot of monster, it doesn't really matter which you choose; if there's only one, well, Tab Target always work :)
It's actually F1 - F8 for party members (although you have usualy 4 only) and very usefull is F11 for nearest target you're facing.