The past is what has already happened. The "learn" part means to learn from your mistakes or achievements that have already happened to know what to do further in life.
The present is what is currently going on right now. The "live" part means to not be constantly worrying about what is to come later on in life; or to hold on to something that happened a while ago that might change how you are living now; this means to live what is currently happening, because that is what mostly matters.
The future is what is to come, or what will happen later on in life. The "create" means to prepare, or make plans for how you want your future to be. For example, to get ready for school, you might pack your luch or backpack to make sure you have everything for the day to come, which in this case, is the future.
Setting: Bahamas
Character: Peter, John, And The Woman
Plot: Basically Peter went to Bahamas and met a friend and something embarrasing happened to him.
Theme: Not sure, but I think it is to be more careful while walking
