--Wooden Sword
The first level sword.

--White Sword
Second level sword.  Does more damage in less hits than the Wooden Sword.

--Magic Sword
The last sword, does more damage than the White Sword.

--Magic Shield
Can block fireballs.

--Blue Ring
Cuts hits down by half.

--Red Ring
Cuts hits down to a fourth.

--Blue Candle
Burns bushes and lights up dark rooms (can only be used once a screen.)

--Red Candle
Same as the Blue Candle, except it can be used at all times.

--Bomb
Blows up Walls, Enemies, etc.

--Bow
Shoots Arrows.

--Arrows
Must be bought from a store, used with the Bow.

--Silver Arrows
A LOT more powerful than the Arrows.  Only needed once in the game.

--Blue Potion
Refills health.

--Red Potion
Same as blue potion, but can be used twice.

--Boomerang
Can kill enemies while still coming back to you.

--Magic Boomerang
A little more powerful than the Boomerang.

--Bait
Used in dungeons during certain situations.

--Raft
Used to cross large bodies of water, MUST be used from a dock.

--Flute
Summons a warp tornado in the over-world.  Also used for a certain boss...

--Magic Wand
Fires magic bolts.

--Magic Key
Opens ALL locked doors.

--Magic Book
Changes the Magic Wand to where it will shoot fireballs.