Showing that stereographic projection is a homeomorphism

Hint: To show that $f$ is bijective, one can often (as can be managed here) compute $f^{-1}$ explicitly. Then, to show that $f$ is a homeomorphism, by definition it remains to show that $f$ and $f^{-1}$ are continuous, but they are both visibly compositions of continuous functions.

Alternatively, stereographic projection maps circles to circles, and so for topological reasons $f$ maps open disks in the planes into open discs on $S^n - \{p\}$ (regions with circular boundary). But the set of open disks in the plane is a basis for the standard topology on the plane, and hence (once you know it exists) $f^{-1}$ is continuous. Similarly, so is $f$.