The time it takes for the diver to hit the water is obtained by solving for t when h = 0 (elevation of the water). So you're looking at:
-5t^2 + 5t + 12 = 0
Use the quadratic equation to solve this. If ax^2 + bx + c = 0, then:
x = (-b +- sqrt(b^2 - 4ac))/2a
When you apply it to this problem, a = -5, b = 5 and c = 12. Be sure to choose the positive value for t!
To get the max height you should first graph the function--this will give you an approximate answer (the value of the parabola at its peak). But to get the exact answer, you're going to want to "complete the square."
First rewrite the equation as t^2 - t = (12 - hmax) / 5. This is simple rearrangement. hmax is the maximum height of the dive.
We want to rewrite the lefthand side as (t - a)^2 + b. Then we will have "completed the square." Why? Because once we've done that, we can solve the equation for hmax. When you do so, you'll find that the multiplier of (t - a)^2 is negative, i.e., hmax = constants - d * (t - a)^2. Because (t - a)^2 can never be negative, we make hmax as large as possible by choosing t = a so this term drops out. The result is the max height.