Here is a list of the items in the game, where to get them, and what they do! Hope it helps!
Name: Kokiri Sword Type: weapon Use: used to kill stuff Location:Kokiri Forest Cost: none Notes: This is the first sword you will get. It will serve you well through your kid years, so keep it handy! You get it in Kokiri Forest by crawling through a hole by the Training Center. Later on Link can get a spin technique for it.
Name: Giant's Knife Type: weapon Use: used to kill stuff Location:Goron City Cost: none Notes: You can get this only as an adult, and for 200 rupees, it sounds like a great deal! But be careful, it will break! You can buy this if you're not ready to go hopping around for the Biggoron sword yet. I wouldn't waste my money though, unless you have lots to spare.
Name: Biggoron Sword Type: weapon Use: used to kill stuff Location:Biggoron Sword Quest Cost: none Notes: Just like the Giant's Knife, except this baby won't break! Time to kick some evilness! This is the most powerful weapon in the game, and it shows. A few swings will take out most anything, and leap slashes....whoa...better step aside!
Name: Deku Shield Type: shield Use: used to defend against attacks (except fire) Location:Kokiri Forest, Dodongo's Cavern Cost: 40, 50 rupees Notes: The first shield you will get. It will hold up well against almost everything...except fire. If you get hit by fire, even if you are not using the shield, it will burn to a crisp, so be careful!
Name: Hylian Shield Type: shield Use: defend against attacks (except laser) Location:Market, Graveyard Cost: 80 rupees, free Notes: This shield will serve you well during most of your adult questing. It can deflect about anything, even fire. A few things, such as lasers, will not bounce off however...so watch out. Otherwise, this shield is great! To get it free, visit Kakariko Village Graveyard at night as a kid. Stand at the back of the Graveyard, near the big tombstone and face the entrance. Now pull open the 2nd tombstone in the first row on your left. Drop into the hole and open the chest, and you'll snag a free shield!
Name: Mirror Shield Type: shield Use: defend against most attacks Location:Desert Colossus Cost: none Notes: The ultimate in defense, the Mirror Shield will block anything, except super powerful attacks! Even lasers bounce right off. You will get this late in the game, but that's ok, you can still have a lot of fun with it. It won't ever break, so don't worry.
Name: Kokiri Tunic Type: armor Use: protect yourself Location: start with it Cost: none Note: You start the game with this...it will be your basic armor protection for a while, so get used to it. Not the best but hey, what are you gonna do?
Name: Goron Tunic Type: armor Use: used to withstand/defend against fire Location:Goron City, Darunia's son Cost: 200 rupees, free Notes: You will need this to walk around inside the Death Mountain Crater and the Fire Temple. You can pay 200 rupees for it, OR you can use a bomb to stop the small, rolling Goron in Goron City. After you talk to him for a bit, he will give you the tunic...for free! Nice deal, huh? Now you can withstand the heat of the volcano. The tunic also lessens damage from fire a bit. It's usually the one I wear around most.
Name: Zora Tunic Type: armor Use: used to stay underwater without drowning Location:Zora's Domain, King Zora Cost: 300 rupees, free
Name: Kokiri Boots Type: shoes Use: protect your feet Location: start with them Cost: none
Name: Iron Boots Type: shoes Use: used to walk around underwater Location:Ice Cavern Cost: none
Name: Hover Boots Type: shoes Use: used to hover momentarily above ground Location:Shadow Temple Cost: none
Name: Deku Stick Type: weapon Use: used to kill stuff or light/burn things Location: most anywhere Cost: 10-15 rupees
Name: Deku Nut Type: offensive item Use: used to stun some enemies Location: forest Cost: depends
Name: Bombs Type: weapon Use: used to kill stuff or blow things up Location: most anywhere Cost: depends
Name: Bow & Arrows Type: weapon Use: used to kill stuff, in quests and to open some dungeon doors Location: Bow - Forest Temple, arrows - most anywhere Cost: Bow - free, arrows - depends
Name: Fairy Slingshot Type: weapon Use: used to kill stuff and to open some dungeon doors Location: Deku Tree Cost: none
Name: Deku Seeds Type: ammunition/weapon Use: used with the slingshot to kill stuff Location: most anywhere Cost: depends
Name: Fairy Ocarina Type: instrument Use: used to play songs Location: Saria Cost: none
Name: Ocarina of Time Type: instrument Use: used to play songs Location: Hyrule Castle moat Cost: none
Name: Bombchu Type: mobile weapon Use: used to blow stuff up/kill stuff Location: House of Skulltula, select areas Cost: none
Name: Hookshot Type: weapon, climbing tool Use: used to kill/stun enemies, and to climb Location: Graveyard Cost: none
Name: Longshot Type: weapon, climbing tool Use: used to kill/stjun enemies, and to climb Location: Water Temple Cost: none
Name: Boomerang Type: weapon Use: used to kill/stun enemies or collect items Location: Jabu-Jabu's Belly Cost: none
Name: Lens of Truth Type: magical item Use: used to tell truth from deceit Location: Kakariko Village well Cost: none
Name: Magic Beans Type: magic vegetable Use: used to collect out-of-the-way items, or reach out-of-the-way places Location: Zora's River Cost: depends
Name: Megaton Hammer Type: weapon Use: used to smash stuff, unstick stuck things, and cause destruction Location: Fire Temple Cost: none
Name: Bottle Type: container Use: used to hold certain items Location: Kakariko Village, Lake Hylia, Ghost Shop, Lon Lon Ranch Cost: none, none, none, 10 rupees
Name: Fire Arrows Type: magical weapon enhancement Use: used to kill stuff, light things on fire Location: Lake Hylia Cost: none
Name: Ice Arrows Type: magical weapon enhancement Use: used to freeze things Location: Gerudo Fortress Cost: 20 rupees
Name: Light Arrows Type: magical weapon enhancement Use: used to kill Ganon and gain entry to his tower Location: Zelda Cost: none
Name: Din's Fire Type: magic Use: used to burn stuff up, light things on fire Location: Great Fairy Fountain of Hyrule Castle Cost: none
Name: Farore's Wind Type: magic Use: used to warp out of a dungeon Location: Great Fairy Fountain at Zora's Fountain Cost: none
Name: Nayru's Love Type: magic Use: used to preotect against attacks Location: Great Fairy Fountain outside Desert Colossus Cost: none
Name: Red Potion Type: recovery item Use: used to restore your life meter Location: Magic Shops, hidden locations Cost: depends
Name: Green Potion Type: recovery item Use: restores your magic meter Location: Magic Shops, hidden locations Cost: depends
Name: Blue Potion Type: recovery item Use: used to restore both life and magic Location: Witch's Shop Cost: 100 rupees
Name: Fairy Type: recovery item Use: used to restore your life meter Location: most anywhere, Magic Shops Cost: none, 50 rupees