This is a simple list of the various items you can find in the game and their basic use. Most likely I missed some. I will update this list as soon as I progress in the game, feel free anyway to let me know if you found something else. Warning: spoilers!
FlashLight: a strong, direct light
Key: opens a locked doorSecretKey: opens a rare and secret locked door
Backpack: adds 2 spots in your inventory
Banana: you gainĀ 20 hp
FirstAidKit: you gain 60 hp
Stablizer: reset your fear
Morphine: say bye bye to fear
Cloth: disable a laughing voodoo doll
Gasoline: burns the big voodoo doll
MarbleSack: 3 marbles you can use as landmarks
Alcohol: warp yourself to a random room
Music Box: attracts enemies
Powder: briefly stuns an enemy
Gun: 1 bullet, 1 kill
PuppyToy: helps you in finding the girl
Hacksaw: you might need it to escape (Shrine room)
BoltCutter: you might need it to escape (Shrine room)
Hammer: you might need it to escape (Shrine room)
CandleStick: you might need it to escape (Church room)
Organ: you might need it to escape (Church room)
Knife: you might need it to escape (Church room)
Gem: you might need it to escape (Study room)
TeddyBear: you might need it to escape (Study room)
Cigar: you might need it to escape (Study room)