The multiplicative inverse of $5$ is $7$, when using mod $34$. $$\begin{align*} 5\cdot x&=3\\[0.1in] 7\cdot 5\cdot x &=7\cdot 3\\[0.1in] 1\cdot x &=7\cdot 3\\[0.1in] x&=21 \end{align*}$$
I don't understand this part:
$$\begin{align*} 7\cdot 5\cdot x &=7\cdot 3\\[0.1in] 1\cdot x &=7\cdot 3 \end{align*}$$
How is 7*5*x the same as 1*x?
Since $5x = 3 \pmod{34}$, you can multiply both sides of this equation by $7$ (the inverse of $5$ to obtain $7 \cdot 5x = 7 \cdot 3 \pmod{34}$. (The reason why this works is because $a=b \pmod{n}$ implies $ca = cb \pmod{n}$, and you should check this yourself if you haven't.)
Therefore since $$ 7 \cdot 5 = 35 = 34 + 1 = 0 + 1 = 1 \pmod{34}, $$ we obtain $$ x = 1 \cdot x = 7 \cdot 5 \cdot x = 7 \cdot 3 = 21 \pmod{34}. $$
Hope that helps,