To shed some light on how I colorize old photos, I made a quick video to explain how I handle skin tones. Unfortunately, it won’t be of much use to someone who’s never opened Photoshop, but it should be useful for any regular Photoshop users who need to be pointed in the right direction. For all I know there are better methods, but this is my current go-to.
As for the colors besides skin tones, it’s usually just a matter of guesswork and experimenting with blending modes.