Welcome to the O.B. and your new vice. We all started with one.
Agree with all above, but would add that you should probably look at the roots. Many (but not all) orchids are sold "overpotted" in sphagnum moss, so they don't dry out in the store. Unfortunately, that means many of them already have root problems from being too wet when people get them. If yours is overpotted in sphagnum, it may also be too high up the plant (so it looks pretty in the store).
Your decisions should probably be:
Is it in sphagnum - if yes, then remove some from the top until roots are visible (if roots are already visible, it was probably growing in the medium it was sold in).
If it is actually growing in sphagnum, can you grow it that way (I can't, but many can)? Sphagnum won't absorb water easily after it completely dries out, but can hold too much water for too long if it is drenched. If you can be very judicious in your watering, you can grow it in sphagnum.
If it is growing in bark, what is the condition of the medium? Is it soggy? decomposing? really musty smelling? If so, you need to repot soon.
What is the condition of the roots? Once you start digging in, you might as well repot. A phal should have firm white, tan, or greenish roots. Black or mushy roots are rotten. A thin thread-like fiber is the central core of a rotten root, not a root. If you have root issues, repot NOW.
Decide how you want to grow, how often you want to water, and how (
misting, soaking, dunking, rinsing, etc). Pick a medium that fits YOUR style and your conditions. Search this forum for the hows and whys.
Good luck, and send us pics (of your orchid(S)) when you can.
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