Statistically, Bavaria is one of the safest regions if not the safest in Germany and maybe Europe. The biggest threat to your wallet are the perfectly legal high prices.
Be aware that there is a big difference between the Bavarian police and the police from maybe Hamburg or Berlin. In Berlin, it might not be a problem if they find a few joints in your pocket because you may carry it for your personal use. In Bavaria, it definitely is a big problem for you. Still, you won't have any problems if you drink alcohol in public as in the rest of Germany and Central Europe. Beer or wine is permitted if you are at least 16, spirits at least 18, but the law is loosely enforced.
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Most Bavarians speak standard German; however, in southern Bavaria, outside of Munich, Austro-Bavarian east or Swabian west is the native language of many. In the north Franconian is the traditional language but few speakers remain. In the cities including Munich standard German is the local language, but Austro-Bavarian-, and Swabian-speakers typically do speak standard German as well except possibly older people in the far south.
Most people speak at least some English or other foreign language, especially the younger generation.