The general purpose of this paper is to attempt to clarify the geometrical foundations of first order Lagrangian and Hamiltonian field theories by introducing in a systematic way multisymplectic manifolds, the field theoretical analogues of the symplectic structures used in geometrical mechanics. Much of the confusion surrounding such terms as gauge transformation and symmetry transformation as they are used in the context of Lagrangian theory is thereby eliminated, as we show. We discuss Noether's theorem for general symmetries of Lagrangian and Hamiltonian field theories. The cohomology associated to a group of symmetries of Hamiltonian or Lagrangian field theories is constructed and its relation with the structure of the current algebra is made apparent.