Yes!  Ballooning is heavily regulated by the FAA just as any other aircraft like airplanes and helicopters.  Safety is the highest priority of the pilot, crew, and FAA.

Pilots must go through training both hands on and studying rules and regulations, and must take a written, oral, and practical exam.  Pilots have to have a flight review from a flight instructor every 2 years to ensure they still possess the knowledge and skill to safely fly.   

The balloon must be maintained in airworthy condition and is visually inspected before every flight.  If anything appears wrong it must be fixed before flight if possible or the flight will be cancelled. The balloon is also required to be inspected by an FAA certified repairman after every 100 hours of flight time and annually.  If anything does not pass inspection it must be repaired before it is certified as airworthy again.  Certain parts such as fuel hoses are required to be replaced at regular intervals. 

Hot air balloons use the same propane as your gas grill at home to produce its heat to stay afloat.  Hoppin' Around carries 30-40 gallons of propane and uses an average of 20 gallons per flight. 

Balloon envelopes (aka: the pretty fabric part)  are made made of rip-stop nylon, polyester, or a combination of both.  The lower portion of the balloon is often made of Nomex (the material a firefighter's suit is made of) to help resist the high heat near the flame. 

The basket (the part the pilot and passengers stand in) is exactly that.  It is made of wicker.  Wicker is flexible, durable, and absorbs the impact of landing.  There is also some metal and fiberglass woven into it that helps hold it together.  

Balloon flights often last around 1 hour and travel around 5-7 miles.  Of course flights can be much shorter or longer and more or less distance depending on wind speeds.  

That's always the million dollar question!  Balloons are moved by the wind and wind only.  The speed and direction of the wind determine its flight distance and path.  Winds at different altitudes often vary.  By controlling which wind current we are in, we can "steer" the balloon in a limited capacity.  Based on forecasts and observing the wind we can estimate the area we will land, but it is never guaranteed.  Flying to a specific location requires pre-planning and skill, and is often a goal of the pilot as it challenges them and creates competition with other pilots.   

Balloons come in many sizes so passenger capacity of balloons range from just the pilot to 30+ passengers.  Hoppin' Around can carry the pilot and up to 2 passengers, but the passenger and pilot combined weight is limited depending on weather conditions such as temperature and humidity.