The problem with these forums is that it is SO much more difficult to describe in words what to do with all of your body...that's why people want to answer this question with "practice." Given that, here's a an attempt to describe a couple of somewhat more detailed suggestions. You didn't ask for a particular dance, I just happen to know a couple of simple exercises in waltz.
To practice rise and fall: standing with feet and knees together, lower so that heels touch the floor and knees are bent. Then, rise only in the knee (at maximum rise, your knee will still be slightly bent). Follow by rise in the ankle (again, do not rise to full extension, at maximum rise the ankle will still be slightly bent). Lower ankle. Lower knee. Repeat, like coiling and uncoiling a spring. Be careful not to combine both motions at once. The points of the exercise are to get your balance in these positions while paying close attention to NOT extending either joint to its maximum reach, which, if done while dancing, would disrupt the fluidity of the movement and possibly cause lack of control. Try to make the movement as fluid as possible.
Another exercise, for heel leads and passing the feet: weight on your left foot, both feet flat and together. To practice forward heel lead: move right foot forward slowly, DO NOT MOVE THE BODY or shift weight forward, gradually lifting toe off the ground to form the heel lead. Swing foot back into place. As you step forward in waltz, this is where the foot position should be as you begin to move your foot and then weight forward to take the step. Practice backwards, lifting heel. Swing right foot back and forth slowly. This exercise helps me remind my feet to take those heel leads. A moving variation on this is to roll the right (forward) foot, taking a forward step slowly, while letting the back foot roll up at the heel until only the toe is on the floor, then slide the back (left) foot to flat next to the right, then forward, toe up, etc. proceed left-right-left walking forward. I can't think of a good way to describe what that looks like, except that it is kind of like Michael Jackson's moonwalk, only going forward. There's a gliding look to it. Of course, you won't be moving exactly like this as you waltz, but you WILL need to pass your feet this way to get the proper heel lead. Careful not to fall forward with your upper body.
Whew! It really is easier just to say, "practice!"
Hope that helps.
--Sandra