Galway is famous for quite a few historical sites, but the town itself isn't that big. Sometimes it's called a city, but it would be very small in comparison to any European counterparts.
Some of the most well known places are probably big let downs; Eyre Square is literally just a (small) park, The Spanish Arch is literally just a (small) archway.
However, the museum has free entrance and some interesting exhibits, and Salthill would be lovely if it's a nice day (when I went it was incredibly wet and windy - typical West coast weather!).
It's very popular for its nightlife (and food) and has some places (like hostels) you could stay while on your way around the surrounding countryside.