Step 1: Understanding the Concept:
The point of contact is the foot of the perpendicular from the center of the circle to the tangent line.
Step 2: Formula Application:
Foot of perpendicular $(h, k)$ from $(x_1, y_1)$ to $ax + by + c = 0$ is:
$\frac{h - x_1}{a} = \frac{k - y_1}{b} = -\frac{ax_1 + by_1 + c}{a^2 + b^2}$.
Step 3: Explanation:
$\frac{h - (-1)}{1} = \frac{k - 1}{2} = -\frac{1(-1) + 2(1) + 4}{1^2 + 2^2}$
$\frac{h+1}{1} = \frac{k-1}{2} = -\frac{-1+2+4}{5} = -\frac{5}{5} = -1$.
$h+1 = -1 \implies h = -2$.
$k-1 = -2 \implies k = -1$.
Step 4: Final Answer:
The point of contact is $(-2, -1)$.