This paper addresses the problems of blind channel identification and multichannel equalization for speech dereverberation and noise reduction. The time-domain cross-relation method is not suitable for blind room impulse response identification, due to the near-common zeros of the long impulse responses. We extend the cross-relation method to the short-time Fourier transform (STFT) domain, in which the time-domain impulse responses are approximately represented by the convolutive transfer functions (CTFs) with much less coefficients. The CTFs suffer from the common zeros caused by the oversampled STFT. We propose to identify CTFs based on the STFT with the oversampled signals and the critical sampled CTFs, which is a good compromise between the frequency aliasing of the signals and the common zeros problem of CTFs. In addition, a normalization of the CTFs is proposed to remove the gain ambiguity across sub-bands. In the STFT domain, the identified CTFs is used for multichannel equalization, in which the sparsity of speech signals is exploited. We propose to perform inverse filtering by minimizing the $\ell_1$-norm of the source signal with the relaxed $\ell_2$-norm fitting error between the micophone signals and the convolution of the estimated source signal and the CTFs used as a constraint. This method is advantageous in that the noise can be reduced by relaxing the $\ell_2$-norm to a tolerance corresponding to the noise power, and the tolerance can be automatically set. The experiments confirm the efficiency of the proposed method even under conditions with high reverberation levels and intense noise.