While this is not sufficient for long exposure astrophotograhic work, it is perfectly adequate for visual observing. The two star method will be accurate enough to allow using the setting circles on your C-8 to assist in finding objects.
Polar alignment is method used to insure the polar axis of your telescope is pointed approximately to the position of the north celestial pole. Good polar alignment will let your scope track objects for hours and allow using your setting circles.
The first step to polar alignment can ge done before taking the telescope into the field: the declination circle must be set to read 90 degrees when the optical axis is parallel to the polar axis.
Here are two ways of doing this - one that can be done at home and another that can be done in the field.
Once you have your optical alignment set up, it's time to polar align. You can spend all sorts of money on polar alignment scopes and such that work well, but are really not necessary for visual alignment. If you are going to do astrophotography with a portable telescope, the only true method for this is the drift method.
For more basic polar alignment, use this method: polar alignment.