If you are only starting to learn about WordPress and Installing themes, here are some good documentations online provided by WordPress Codex to get you started:
Unzip/Extract files from the Morphis Download Zip Package ( e.g. Morphis1.9.2-WP.zip ) after you have purchased and downloaded from ThemeForest.
The Morphis Download Zip Package consists of these files: the PSD folder, screenshots, morphis_documentation.pdf and the morphis.zip.
Installing the theme can be done in either of the two (2) ways:
1.) Using FTP
In order to use the theme to your Web Server, unzip morphis.zip file and upload the contents to the /wp-content/themes/ folder of your WordPress installation folder using your favorite FTP Program (e.g. Filezilla, SmartFTP, CoreFTP). Once the theme is uploaded, you need to activate it. Go to Appearance > Themes and activate your uploaded Morphis WordPress theme.
2.) Using the WordPress Dashboard.
Another way to install the theme is by logging in as Administrator to the WordPress back-end and clicking the Appearance menu from the left sidebar of the WordPress Dashboard. Then click the Install Themes tab. Click the Upload link and Choose File. Browse and find the morphis.zip file from the unzipped Morphis Download Zip Package and click the Install Now button. Wait until the theme is installed and activate the theme by clicking the Activate link. You can also activate the theme by going to Appearance > Themes and activating Morphis.