After you install the package, there is nothing left to do with it. It will just run in the background and do its magic.
Your ant-spam settings are managed through the Anti-spammer Master settings form on the core Spam Control dashboard page.
Use them in your forms
Using honeypots and timers with Anti-Spammer Master and Formidable works the same way it does with Core Form blocks: You'll have to create a template for your Formidable blocks and add the honeypot and timer fields to it following this procedure from Anti-spammer Master documentation.
What are honeypots and timers?
If you're not sure what honeypots and timers do, it's simple:
Improving accessibility
It is good practice to put your honeypot blocks after the submit button. Putting it after the submit button will ensure users with disabilities using screen readers will not fill the honeypot accidentally. Other measures are in place to avoid that, this is just an extra measure but an important one.