How does one figure out which journals to submit a paper to?

I ask because I am finishing a paper and need to decide on which journals I'm going to submit it to, and I have never done a paper before.

I know very little about this, but my general sense is that I want to match the interest level of my paper to the renown of the journal (Nature probably doesn't want my lame paper, but I'm also not going to submit it to a fly-by-night journal that's purely for-profit). I have a vague idea of what some high profile journals are, and a few I know to be disreputable, but there's a pretty wide range in between I have no idea about.

I've heard of the concept of Impact Factor, but also heard (as that article mentions) that it's not everything and just a rough guideline. I've also heard favorable things about review journals, namely that they're often understated but can actually be a great place to submit because people often look there for fresh ideas.

Any advice on how to find the journal(s) that best match your paper?