Items have three different kinds of abilities: bonuses, properties and spells. Bonuses increase your characters stats, properties give items special attacks, and spells are cast when certain items, like wands, are used during battle. The spells may cause the item to become cursed, at which time it gives no bonuses and cannot be used again until uncursed, either with butterfly powder or by leaving the dungeon.

Items have a number of bonuses which are hard to understand due to them being so abbreviated in game. Here's what these stats do:

The properties listed on weapons indicate their element (if any), as well as whether the weapon is good against a specific enemy type and what status ailments it might inflict. Items with Critical, like many katanas, are capable of instantly killing enemies if you're lucky enough. A single circle means that it deals at least normal damage (or defends against) that type, while a double circle is even better. If you are lucky enough, some of the status ailments like KO can be a reliable way to pin a single enemy down.

Spells are all listed directly in the item's description and they duplicate normal Cleric or Wizard spells. Wands can be used multiple times until they fail and get cursed, after which they must be uncursed either by Butterfly Powder or by returning to town before being used again.