Might and Magic Wiki

The dragon is the sixth-tier creature of the Mountain faction in Heroes of Might and Magic I. It is the strongest creature in the game, and easily able to defeat any other unit in a one-to-one fight.

Dragons are immune to magic, and their fire breath attack will also damage the creature behind their target. As flying creatures with great damage and decent speed, they are a threat to any army. This reflects to their costs, being the most expensive unit in the game. Watch out for genies as the magic immunity is useless against their ability to destroy half of the troop.

If dragons are the only creature in the army, the hero should feel free to use Storm or Armageddon as those spells do not harm them.

Dragons can utterly devastate anything when blessed with good luck as their 25-50 damage per troop, modified by their attack vs. enemy defense, is doubled.

Heroes of Might and Magic I creatures
Farm (Knight) units Peasant - Archer - Pikeman - Swordsman - Cavalry - Paladin
Plains (Barbarian) units Goblin - Orc - Wolf - Ogre - Troll - Cyclops
Forest (Sorceress) units Sprite - Dwarf - Elf - Druid - Unicorn - Phoenix
Mountain (Warlock) units Centaur - Gargoyle - Griffin - Minotaur - Hydra - Dragon
Neutral creatures Rogue - Nomad - Ghost - Genie