That's why they call it 'Bible study'. It isn't just about picking up the good book and reading a few verses. You always check the context, find other supporting passages, compare the various translations (some focus on getting the exact wording, others strive for the exact meaning, etc), have Greek and Hebrew dictionaries available, concordances, etc.

You can call the Bible a fairy tale all you want, but every year they find archeological evidence of the historical accuracy surrounding many aspects of the Old Testament - cities scientist\archeologist didn't believe existed are found, etc. The New Testament is also regarded as being a valid historical document - people and places discussed actually did exist. So the disputes are really just surrounding the accounts of miracles and such - and as most things, just comes down to faith. But dismissing the entire Bible as a 'fairy tale' is pure ignorance.