Equipment is given to your hero is several different ways. You can buy equipment from an armorer or other special shop. Or you may recieve items upon completing quests. But the biggest source of equipment are treasure chests, raids, heroic battles and expeditions. Most likely in that order as you prgress through the game. Your equipment may be stored in you inventory or at an artefact bailiff. Or they may be used in your heros equipped slots.

Artefact Quality
There are a number of different artefact qualities, stated in the top right corner of an items information window, this quality also changes the color of the name on the item.

Mundane (White)
Minor (Green)
Major (Blue)
Relic (Magenta)
Legendary (Gold)

Prefixes & Suffixes
All random items are provided with a prefix name and a suffix name. An example is "Silk Skirt of Loyalty".

Prefix names gives a hint on the intended user of the item, the inventory slot used and the required level of the item. (e.g. "Silk Skirt" items are Lower Body Armor, Magic Hero required and range from level 22-27)

Suffix names indicates what attributes the item provides.

Devastation; Magic, Heroic Support, Luck
Domination; Might, Creature Defence, Luck
Loyalty; Might, Creature Defence, Spirit
Mastery; Magic, Heroic Support, Spirit
Domination and Loyalty appear on equipment subtypes Primary Weapon, Lower Body Armor and Body Armor

Devastation and Mastery appear on equipment subtypes Support Weapon, Trinket and Headgear

List of Equipment Sets