For all these redox problems, the key is knowing the oxidation numbers. It is not formal charge, instead you are looking at oxidation numbers. The way I remember is that oxygen is always -2 (with some minor exceptions, but I wouldn't worry about them), and then Hydrogen is +1, (also with some exceptions, but I wouldn't worry about them). So after you assign oxidation number to these two kinds of elements, most of the oxidation number for the rest of the molecule will implicitly fall in place once they all add up to the oxidation number of the whole molecule.
That's the first part, and that's as hard as it gets, not too hard right? Then, the best reducing agent is the one that is mostly oxidized. You say what? Basically you find with of the element on the left side has the highest amount of increase in the oxidation number as the reaction takes place (ie right side), then that is the best reducing agent. The best reducing agent is the one that is most oxidized.
Hope it helps. I was confused with this too, but it is an critical concept that will occur on the real DAT.
Jason