Fuh-zan-uh-doo, according to Wikipedia.
Anyway, once you get past the point where you have to open the three fountains, the game becomes pretty easy. So easy that you can play it without the use of a Walkthrough/FAQ. And the Level Up system's pretty cool, too.
Just have plenty of red potions for one of the bosses.
Yeah, it's a decent sidescrolling RPG, created by Falcom, creators of the Ys (Ees) series, and the Dragon Slayer series. In the US, Dragon Slayer IV was known was Legacy of the Wizard, and Faxanadu was apparently a spinoff*.
* No, I did not get this info from Wikipedia.