Hi, and welcome to the forum <img src="/ubbthreads/images/graemlins/wave.gif" alt="" />
You can take unidentified items with you to a merchant for identifying, or spend some skill points on identify (would save you some bucks).
If you are unable to equip some items, it could mean that your stats or level must be higher before you can use them ( for example 35 or 70 in strength)
Hope this helps,
Morpheon