Disclaimer: My high school's Calculus I course does not teach parametric functions, and I haven't taken the course for even a full semester yet.
Finding the tangent line at $\frac {\pi}{4}$
One definition for cosine and sine is the coordinates of the unit-circle. A unit-circle is by definition said to be centered around the origin and to have a radius length of 1 unit. A slightly manipulated version of the standard formula for circles around the origin ($\sqrt{x^2+y^2}=r$) gives us:
$$\sqrt{x^2 + y^2} = 1$$
If x and y ($\cos(x)$ and $\sin(x)$ respectively) are multiplied by 2 then:
$$\sqrt{(2x)^2 + (2y)^2}$$
$$\sqrt{4x^2 + 4y^2}$$
$$\sqrt{4( x^2 + y^2 )}$$
$$2\sqrt{x^2+y^2}$$
Substituting $\sqrt{x^2+y^2}$ with r based upon the above equation gives us:
$$2r$$
Which means that our new radius is 2 units long.
The equation for a circle with a radius size of 2 units that is centered around the origin is:
$$x^2 + y^2 = 4$$
Now we can take the derivative with respect to x:
$$2x + 2y*y'(x) = 0$$
Solving for $y'(x)$ gives:
$$y'(x) = -\frac xy$$
At a $45°$ angle, $\cos(x) = \sin(x)$, thus, $x = y$. Therefore $y'(\frac {\pi}{4}) = -1$. To find the tangent line, you now just need the y-intercept. This can be found by using the equation $y=mx+b$ like so:
$$\sqrt{2}=-\sqrt{2} + b$$
$$b = 2\sqrt{2}$$
Now we put it all together, again using $y=mx+b$, to obtain the tangent line:
$$y = -x + 2\sqrt{2}$$
For visual confirmation of the above tangent line, here's a graph from Wolfram Alpha:

Finding a function for the second derivative:
By the quotient rule of derivatives, $y''(x)$ is:
$$\frac {y-y'(x)*x}{y^2}$$
Subsitute $y'(x)$ with $-\frac {x}{y}$:
$$y''(x) = \frac {y + \frac {x^2}{y}}{y^2}$$
Simplify:
$$y''(x) = \frac {x^2 + y^2}{y^3}$$
We can optionally simplify further by using our circle equation $x^2 + y^2 = 4$:
$$y''(x) = \frac {4}{y^3}$$
Finally, upon substitution of $2\sin(t)$ for y, we get:
$$y''(x) = 2\csc(x)^3$$