The deeper significance of this day is the victory of Good over Evil. Narakasura; the Demon King who ruled the World; symbolizes the World in the grip of Evil and Shri Krishna symbolizes the Good which ultimately destroys evil.
Devote Hindus apply a perfumed paste on their bodies, early in the morning and then have a bath. Then they wear new clothes and offer their prayers and make an offering of Diwali Sweets before the Photos or Idols of their Family Deity; those who do not know about their Kuldevta; make an offering to all the Deities in their Puja Place. The bursting of crackers is the celebration which marks the ultimate destruction of Evil.
Friends; have no doubt in your mind; we live in a World in the Grip of Evil, in this Age of the Kali Yuga. There is still a long way to go before the Narakasuras of the World meet their end. Each Good person will have to be a Krishna himself and not wait for the other one.
Wishing all readers and visitors of this site a very happy and prosperous Diwali; may your dreams and aspirations come true.