The featured product can be set from the admin section. You can set any product to be featured by clicking the feature button on the product details page.
The most popular product, it appears you don't need, so just delete it and delete the mostpopular recordset and you can add content manually. It is only used on that page and then displayed on the admin home page, so you can delete it from both places and it won't cause issues anywhere else on your site.