Weapons can be found by defeating enemies, and you'll receive a simple weapon upon registration. To equip a weapon, check its name or slot number in your inventory, and then use !equip [number or weapon name]. Weapons increase your melee damage. Some have a large range of damage meaning your actual damage output is largely based on luck, while others have a small and specific range, giving you more reliable damage output numbers. Your critical hit chance is reduced by weapons with large range. So if you're planning to build a character that critically hits often, don't use weapons like battleaxes and war axes. Weapons of a single material (e.g. Iron) tend to have the same average damage, effectively being equal to all others in that tier of weapons. However, some may prefer having a chance to hit for alot of damage, while others want reliable damage output. Damage done by weapons is increased by your strength, as well.
Wands are weapons intended for use by characters with a high Intelligence attribute relying on Magic-Type Skills. Those skills are boosted by wands by a certain percent.