Play it at http://www.kingdomofloathing.com
Here are some basics I've encountered so far.
Lots of additional info can be found at http://kol.coldfront.net/ hey
Like in every good RPG there are some character statistics available. The three main values are Muscle, Mysticality and Moxie. When you fight you get smaller values of them which accumulate until you get a full point. Depending on your chosen character class your experience level will raise on a certain amount of one of these stats.
Aquired by getting Strengthliness, Strongness, Muscleboundness, Beefiness or Fortitude. This value determines how hard you will hit in a fight.
Aquired by getting Wizardliness, Enchantedness or Mysteriousness.
Aquired by getting Sarcasm, smarm, Cheek or Roguishness.
These are your lifepoints. If an enemy hits you you will lose some. You can not die but will be beaten up which decreases your main stats for three adventures. To regenerate hitpoints you can either sleep at the campground (takes one adventure), take some offtime or get some potions at Doc Galactic's Medicine Show. I'd always do the last one if you can afford it.
Also called Moxiepoints or Magicpoints depending on your class. These points are used when you use your skills. These points are regenerated by resting at your campground (or by other methods that you will discover!)
For all serious actions (fighting, resting, combining items, …) you need an adventure. You get 40 new adventures per day (realtime). You can also gain some adventures by eating and drinking stuff you find in the game. However drinking alkoholica will get you drunk. You can also gain adventures by having certain items equipped overnight.