Fly fishing requires a totally different setup.
With an 8lbs line it would be OK for spin fishing for trout and medium sized bass. Definitely not for salmon or good sized steel head. It might also be good for smaller pike. I managed to catch pike up to 30" with a similar line.
For a beginner lures with a length of about 1.5" to 2" and a weight of about 1/10 oz to 1/5oz might be good. The heavier ones are easier to cast but require more speed. For spoons I used Effzett spoons. For spinning lures I exclusively use Mepps Aglia (#3 or #4 is fine for your setup). I have no affiliation with either Mepps or the manufacturers of Effzett spoons.
You might try dropshot fishing too. It involves less casting and can bring goos success.
With a rod that short, I would not bother using natural baits and a floater (OTOH I got special gear for that anyway).