The Items

Here is a nice handy reference sheet that contains some information about all the items, weapons, and armor you can get in Zelda, whether it be through killing enemies or acquiring them. The list is organized alphabetically, except when there is a "pairing" of similar items (like the blue and red ring, etc).

Name of Item	Picture	Description	Max Capacity	How and Where do I get it?	Extra Details
Single Rupy		A Rupy is the money, moola, shinies in Zelda. You usually use it to buy stuff and information.	255	Defeating enemies, secret NPCs will give it to you, winning mini-games.	Every arrow you shoot costs one rupy.
Five Rupies		More rupies! This one is worth 5 of those orange ones.	255	Same as single rupies.	The Ropes are good sources for Blue Rupies.
Arrow		Um, it's an arrow. You use it to shoot things from a distance.	You carry as many arrows as you do rupies.	You can buy them from shops for 80 rupies.	Every shot arrow costs one rupy.
Silver Arrows		These are special arrows, you need them to defeat Ganon.	You carry as many arrows as you do rupies.	Found in the ninth dungeon.	Same cost per shot as regular arrows.
Blue Candle		It's a candle. You use it chiefly to light up darkened dungeon rooms.	One candle, one use per screen.	You can buy it from shops for 60 rupies.	Candles can also be used to damage some enemies and more importantly, can light bushes on fire, which can reveal secrets.
Red Candle		It's an enhanced version of the Blue Candle. Same effects.	One candle, can be used an infinite number of times per screen. Replaces the Blue Candle.	Found in the seventh dungeon.	If you're looking for secrets on your own without my guides, get the Red Candle first or it'll get very tedious.
Blue (Life) Potion		Life giving potions. They refill all your life.	One.	Give the Letter to any old woman in a cave, you can then buy them for 40 rupies.	A blue potion can be used only once per purchase, I recommend only buying the Red variety.
Red (2nd) Potion		"Mega" Potion, it can be used twice instead of the Blue Potion's single use.	One, but you get two uses from it.	Same as the Blue Potion, only the Red ones cost 68 rupies.	A Red Potion will replace a Blue one if you already have it. When you drink a Red Potion it turns blue.
Blue Ring		When you "wear" this ring your suit will change color. You only take half as much damage with it than as regular Link.	One.	You can buy it from a shop for 250 rupies.	If you are having trouble early in the game save up enough rupies for the blue ring, it will make things a lot easier.
Red Ring		Better than the Blue Ring, damage is reduced to that of a quarter of usual damage levels.	One.	Found in the ninth dungeon.	The Red Ring replaces your Blue one.
Bomb		A small explosive, can be used to harm some enemies, blow holes in the walls of dungeons and in rocks in the Overworld.	In the beginning you can only carry 8 bombs, but in the fifth dungeon you can upgrade to carry 12 bombs and to 16 in the seventh.	Blue Octorocks, Blue Moblins, and other enemies may drop bombs. Bombs come in groups of four. You can buy them from shops for 20 rupies.	You will need to use Bombs to defeat the Dodongos. Bombs are also used to discover secrets in the overworld and to blow open walls in the dungeons.
Boomerang		It's a weapon. You throw it, it comes back to you.	One, you can use it infinitely though.	Found in the first dungeon.	Boomerangs will defeat very few enemies, but will usually only stun most others. It can also be used to retrieve items, a very useful item.
Blue (Magic) Boomerang		A better version of the boomerang. It travels farther than the regular one.	One, infinite uses.	Found in the second dungeon.	Replaces the regular Boomerang in your inventory.
Bow		It's a bow, once you get it you can shoot arrows at enemies.	One.	Found in the first dungeon.	If you buy arrows ahead of time you can't use them until you get the bow, duh :P
Clock		When you get a clock it will freeze all the enemies on the screen and make you invincible for that screen.	N/A	They appear randomly in battle when you're fighting enemies.	Always get the clock as soon as it appears!
Compass		It shows the location of the Triforce piece in a dungeon.	One per dungeon.	There is one hidden in every dungeon. Check the Dungeon Maps and Walkthrough sections for more specific help.	One of the rooms next to the Triforce piece contain the boss enemy, be careful.
Fairy		A fairy will fly around the screen when it appears. If you capture a fairy it will refill 3 heart containers.	N/A	After defeating enemies a fairy may randomly appear.	There are fairies located in lakes throughout the Overworld who will refill all your health.
Food/Bait		You have to give this to certain Molblin NPCs in order to continue onward in some dungeons.	One, infinite uses unless you give it to a Moblin NPC.	You can buy it from various shops for 60 or 100 rupies.	You can put your bait down on the ground and some monsters will be attracted to it. Not generally helpful though.
Heart		This is heart, a unit of your life. Every heart you get...fills one empty heart in your life bar! The shock! :P	N/A	You get extra single hearts by defeating enemies, it will randomly appear. You can buy them from shops for 10 rupies.	Note: These are different from the "Heart Containers," which extend your life bar by one heart. A regular heart merely fills up an existing unit.
Heart Container		If you find a Heart Container it will extend your life bar by one heart. Invaluable.	There are 13 Heart Containers in Hyrule, not counting the three you begin with.	You get them at the end of the first eight dungeons. There are also five hidden Heart Containers in the Overworld.	Go to the Heart Containers section of the walkthrough if you need help finding any. Or check my Overworld Map page.
Key		A key will open one locked door in a dungeon.	There are at least as many keys as there are locked doors. You don't honestly expect me to count them all do you? :P	Sometimes a key will be dropped by an enemy when you defeat them, but usually you are rewarded a key by defeating all the enemies in a room. You can buy them from various shops for 80 or 100 rupies.	You can beat dungeon two without using any keys! This helps later on, when there are more locked doors.
Large (Magical) Shield		A much larger version of your regular shield. Can block more objects.	One.	It has to be purchased. You can buy it from various shops for 90, 130, or 160 rupies.	Be careful, if a Like Like sucks you in, you will lose your Magical Shield and have to re-purchase it.
Letter		An old man will give you a letter which you are to return to an old woman. When you do that you can buy Life Potions!	One.	Check my walkthrough page for its location.	The Life Potions will take the spot of the Letter when you give it to the old lady.
Lion (Magical) Key		This key is a huge improvement over your regular keys. You don't lose it after using it.	One, but infinite uses.	Found in the eighth dungeon.	Definitely have this key before entering the ninth and final dungeon, otherwise you're going to be stuck a long time or buying keys often :P
Magic Book		The magic book causes the wand to light whatever it hits on fire.	One.	Found in the eighth dungeon.	It's not useful until after you get the magic wand.
Magic Wand (Rod)		The wand lets you shoot a beam at enemies.	One.	Found in the sixth dungeon.	When combined with the Magic Book the Wand will set on fire whatever it hits.
Map		The map shows the layout of the dungeon you're in.	One per dungeon.	There is one hidden in every dungeon. Check the Dungeon Maps and Walkthrough sections for more specific help.	There are a few rooms not found on the minimap.
Power Bracelet		The bracelet is used for pushing some rocks in the Overworld.	One.	Check my Walkthrough page or Overworld map for its location and how to get it.	Once obtained, the bracelet helps you uncover a secret transport system hidden beneath certain rock clusters on the Overworld.
Raft		The raft allows you to float from one place to another in certain spots in the Overworld.	One.	Found in the third dungeon.	In order to use the raft you have to step on a special dock area that jutts out across the water.
Recorder		It's a whistle. Normally when you blow on it you are warped to a random dungeon entrance in the Overworld.	One.	Found in the fifth dungeon.	The whistle is also used to open the entrance to Dungeon Seven.
Step Ladder		The ladder helps you cross small bodies of water, like single-tile width waterways.	One.	Found in the fourth dungeon.	You need the ladder to get a Heart Container in the Overworld.
Sword		It's your first weapon, stick the pointy end into the fleshy spot of enemies.	One.	An old man gives it to you in a cave right at the start screen.	When you have full life you can "shoot" a beam from any sword at enemies.
White Sword		An elegant weapon, from a more civilized age.	One.	In a cave by a waterfall at the top of Overworld. Check my walkthrough and Overworld page for its location and how to get it.	It does twice the damage as your regular sword, and you need five Hearts before you can wield it.
Magical Sword		Whosoever pulleth this sword from this gravestone and this olde man, will henceforth be champion of all Hyrule.	One.	It is under a grave in the graveyard. Check the walkthrough and Overworld map for details.	It does four times the damage as the regular sword, and you need twelve Hearts in order to wield it.
Triforce Piece		Ganon has the Triforce of Power. The Triforce of Wisdom has been broken into 8 pieces and you need to regather them together.	Eight.	You get one piece of the triforce after beating each of the first 8 dungeons.	You need to reform the entire Triforce of Wisdom in order to enter Dungeon Nine, the last one. Getting a triforce piece refills your life.