Besides those 2 viewpoints, there is also the third person limited. That is very close to first person, but you only hear the thoughts and feelings of 1 person. It is very similar to first person.
Technically most movies are done in third person cinematic, that is a seldom used term, but it means we see only what a camera sees, never dipping into anyone's mind. In books third person omniscent would have the thoughts of everyone. Dipping into one person's mind for a paragraph or so, then into another.
There are multiple ways to introduce information. One way is through dialog, one is through a narration, and other ways. Some of these choices can be difficult on the writer. That is one of the problems writers face and have to decide for themselves.
First person does allow one to get to know the one viewpoint character very well.
Good luck on your writing.