What is the beast? Satan? If he is just a creature, what is his race?
I believe that this is not clarified in the episode. It makes various claims but we have no way of knowing whether the claims it made were true.
Why lock it up, rather than kill it?
Several possible reasons exist, perhaps their justice system did not include the death penalty, perhaps it cannot die and they did not want to send it though the black hole unless they had to as they were not sure what would happen, perhaps they thought that they might need it someday?
Who locked it up? (Presumably creating the gravity field to maintain the planet as well).
The Disciples of Light.
Did the creators of the prison add safety features that saved the Doctor when he fell off the pit? Or is it the TARDIS?
It was designed with safety features in case someone had to come down there and operate the controls like the doctor did (notice that they left information and instructions etc on the wall for this eventuality).