If a circle touches a point (like any point on the co-ordinate axes), does it mean that the point will satisfy the equation of the circle?
Also, if the equation of the line on which the centre of the circle is given, then should the perpendicular distance of the point from the line, be the radius of the circle?

Consider the above circle with centre A, on the circumference of which there lies a point, B. Now, this point can lie on any arbitrary straight line, which will then become a tangent to the circle, and the point B would become the point of tangency.
Now, the radius dropped on a tangent is always perpendicular to the tangent, and the vice-versa is also correct, that is, the radius joining the point of tangency to the line on which the centre A lies, is a normal to the line. So, the line BA, which is perpendicular to the line on which the centre A lies (ignore inaccuracies in diagram), is a radius, right?