The water should have covered the bones with a little extra. If there is too much water, you can reduce it by boiling after you strain out the bones and other stuff.
It won't have a finished taste because of a lack of salt. You should not add salt to a stock. Always add it to the dish you are using it in. The salt you did add won't be a problem.
Some people boil it way down so it's double strength or more then freeze it. That way it takes up less space and dan always be brought back to normal strength with added water.
"If you want to make an apple pie from scratch, you must first create the universe." -Carl Sagan