Lizardmen: regular everyday lizardmen, just like you or I, these guys are the default race by which everybody else is measured. They can swim, and are not penalized by watery/swampy terrain. being generic as hell, they can develop pretty much any culture you want, provided it is appropriate for the technology level of the setting, but they are poor cavalrymen, so bear that in mind. Their ships are often basically floating wads of wicker and weaponry pushed about & crewed by swimming lizardmen.
Dwarves: If I have to explain dwarves to you you must be new here. They get a bonuses to defence and production, especially in mountainous regions, maluses to both in woodlands & can see in the dark. Culturally, they tend towards ancestor worship and towards necromancy. They are not good cavalrymen, but can build roads fast to remain competitive mobility wise. Their ships are slow but durable.
Elves: Pointy eared folk. Keen sight gives a bonus to hit, bonus to defence in woods. Elves are slow learners and not industrious, often taking centuries to adapt new technologies, but these traits are somewhat lessened in times of war & crisis. Most cultures are terrible diplomats due to snobbery. Elves make good bowmen, and some cultures may be good infantrymen or cavalry. Their ships are often simple longships, which are fast to build & maneuver but not suited to ship-to-ship combat
Humans: As anyone who has ever tried to argue with a human can tell you, they are stubborn bastards who can devote ridiculous amounts of willpower to the most banal of tasks, and have something of a vicious streak; Because of this, humans make excellent magicians and are good at resisting enemy enchantments. They fight well on open plains where other races would be penalised due to the lack of any viable cover. They are strictly diurnal, having poor sight and accuracy at night but being correspondingly keen sighted and alert during the day. They generate mana more easily than saner races do. Culturally humans are almost as varied as lizardmen, but most human cultures regard the sea as an evil place; they can specialise in naval power but only at the expense of being good at anything else at all. The other universal trait of human cultures is a bent towards magic that makes things explode. When they build ships they are often large, fast and expensive.
Goblins: Goblins are strong but frail. They have no favoured or disfavoured terrain, are accurate with melee weapons and are poor archers. They are strictly nocturnal in much the same way humans are strictly diurnal. Culturally they tend to be based around mass production of infantry or light cavalry. They are very omnivorous and have a bonus to food production; they can eat wood, bone, cloth et cetera. They tend to build ships which can carry absurd number of troops but which are frail glass cannon type arrangements.