Find the slope of the tangents to the circle $x^2+y^2-2x+4y-20=0$.
After I arranged into a standard form, which is $(x-1)^2 +(y+2)^2=25$ Centre point is $(1,-2)$ radius is $5$ unit.
Do I need to do the implicit differentiation? If I did so, The equation should be, $(2x-2)+ 2(y+2)\frac{dy}{dx}=0$.
Am I right?

Yes absolutely. After that $$\frac{dy}{dx}=-\frac{x-1}{y+2}.$$ Now at any point $(a,b)$ with $b\ne 2$ on the circle you get the gradient $$\frac{dy}{dx}_{x=a,y=b}=-\frac{a-1}{b+2}=m(say).$$ Now find the equation of the circle by $y=mx+c$.