This is a big subject, but I'm to try to keep my answer short here. If you want any elaboration, feel free to ask.
LDS believe in ONE God. This ONE God consist of multiple persons, such as the Father and Son. They are ONE God through unity: they have ONE NE perfect love, will, grace, mercy, justice, etc. The Son always acts perfectly with the will of the Father. If a person was to heed the promptings of the Spirit, they're also heeding the promptings of the Father. The mercy of the Father is the same mercy of the Son. To honor the Father is to also honor the Son-- you just physically can't honor or obey the Son without also honoring and obeying the Father. The Father, Son, and Spirit are ONE. Different persons, but ONE God.
Now, zooming in to talk about us: we are children of God. It is the Father's greatest joy to see His children grow up to be like Him, and following His ways is the deepest expression of love each of us can do. He wants us each to share in His perfect love, perfect grace, mercy, justice, etc. He wants us to be one with Him-- in fact that's the entire purpose of this earth and Christ's sacrifice, that we may be one even as the Father and Son all (see John 17). At the end of the day, this still makes ONE God as described above. Here are two links discussing this more in depth:
https://www.lds.org/topics/becoming-like-god?lang=eng https://www.lds.org/scriptures/tg/ma...eavenly-father
Touching on other subjects:
-In the above, I talked about our future as children of God. There is also the subject of the past before the creation of the earth. LDS have no doctrinal statements on "past gods creating gods" or anything about that past. There are a few speculative quotes on the subject though (speculation being a very different thing than scriptural doctrinal statements).
-Unlike Creedal Christians, LDS also believe that every person has always exist. Not as we are now, but you & I did have a spirit that lived before this earth was created.
Again, feel free to ask for any more elaboration.
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