When I turned the key to my 97 SL1 it hesitated to start, then smoke came out of the ignition and dash, now it wont start, what's the cause and how can I fix it?

Find the burnt components. It could be in the ignition switch itself also check for a shorted wire above the pedels there is a wire that will short on some models ussually around the clutch the insulation will be chared. Check your fuses
repair or replace as needed