I agree as well.
The first likely has such long aerial roots because all the ones in the pot are rotted/rotting. You said the person you got them from had them always sitting in water. That is probably why all the roots have tried to get out the pot, so they can get some air.
I would repot the first one, but personally I would try and only put some of the roots into the pot. Sometimes aerial roots don't adapt well to growing in a pot and if you were to try and put them all in you could risk loosing them all.
Use a good quality orchid bark. I'm not sure where you can get that from locally but I know you need to avoid the Miracle grow stuff, lots of bad things said about that for Phals here on Orchid Board. You can also try
rePotme Orchid Supplies - Orchid Mix - Orchid Pots - Orchid Care - Orchid Fertilizer which has good stuff, but shipping can be expensive.
When you repot remove all dead roots (mushy/hollow). Soak the roots you want to get into the pot a lot to make them a bit more flexible.
After repotting you should water with lots of water, then leave it to dry between waterings (don't leave standing in water) when the roots you can see in the pot turn silvery down near the bottom it's time to water again.
As for the second plant, I agree with others that it has very little chance and personally I would trash it. If you want to try then it also needs repotting but that's about all the advice I can give.