First of all, it depends on which version you are playing.
In vanilla Elona, items of equipment are identified over time (but very slowly), the Sense of Quality skill speeds up the process, however. Also, the items you are wearing are identified faster, but this is a risky method, since the items may be cursed (cannot be removed, have a hidden debuff to their stats, randomly teleport you) or even doomed (in addition to what was listed earlier, you will also periodically receive damage and there is a small chance that you will be killed by an invisible hand). However, if the item has already been partially identified and you do not see the curse (message Scary for cursed items, Dreadful for doomed), then you can actually carry such items to speed up their identification. Already equipped a cursed item? I sympathize with you, since removing the curse is more hassle than identifying item (you need at least a scroll of Uncurse, preferably a blessed one, or a scroll of Vanish Curse).
Next, you can turn to the Wizard NPC (https://elona.fandom.com/wiki/Wizard_(NPC)), which will identify either one item or (at a discount!) all your stuff (but this can be too expensive, so it’s better to first drop all the things that for some reason you don’t want to identify ). Third option? This identification of artifacts is used to identify those items for which the power of normal identification is not enough.
Next, you can use a rod of identification (it can fail, also identification of items of particularly high quality is not guaranteed, but in general this is a good option in relation to the price to the number of identified items) or a scroll of identification... or a scroll of great identification, if you want to identify an item of particularly high quality.
And finally, if you are a member of the Mages Guild (to reserve from a spell writer any spellbook you have ever read) and your Literacy skill is high enough to read the Spellbook of Identify, then you can cast the corresponding spell.
Elona+? The Sense of Quality is now called Analysis and over time it recognizes any item, not just equipment. Also, the price of identifying items from Wizard has decreased significantly. Otherwise, everything seems to be the same as in vanilla Elona.
Other versions? I don’t know much about them, but in theory the situation with identifying objects is the same as in vanilla Elona.