The Main Idea:

Army Composition:
Note: This assumes you have the maximum army size (200 housing space)

Farming Strategies:

Option One:
--60% Barbarians
-- 40% Archers
(Barbarian King)

Option Two:
-- 95 Barbarians
-- 55 Archers
--45 Goblins
(Barbarian King)

[See previous sections for information on how to use these strategies]

War Strategies:

Option One: [MASS DRAGONS]
--10 dragons
--Barbarian King
-- +1 drag in clan castle and 5 archers or a balloon
--All rage or 2 rage/1 heal

A note on spells: Some people prefer to use three lightning spells to take out one of the air defenses. While this strategy works well at TH 7, you can sometimes run into problems at TH 8.

Option Two: [DRAGLOON]
--10 dragons
--Barbarian King
--Max loons in clan castle
--All rage or 2 rage/1 heal

Couple of side notes -- don't use all lightning spells with dragloon. The troops tend to lose momentum / get chewed up by the AD. Another note on the army comp is that you can substitute one of the drags for four loons. I don't usually do this, but if that's what you want to do, that's okay. Just make sure your loons are level 5.

Option Three: [HOGS]
-- 32 hogs
--10 minions
--12 archers
--8 barbarians
--Barbarian King
--3 heal spells
--Wizards and archers in clan castle

Note: you can swap the minions for wizards if you prefer.
Another note: Don't use this strategy unless you have level 4 hogs.

Option Four: [GoWiPe]
--2 golums
--3 P.E.K.K.A.s
--12 wizards
--8 wall breakers
--1 archer
--Barbarian King
--2 rage/1 heal
--P.E.K.K.A in clan castle

Attacking:

This section is a work in progress!

Source: http://forum.supercell.net