http://www.pathofexile.com/item-data/
If you have a read of this page it explains it a little but in a nutshell items can have a preffix and suffix attached to them to make up their properties.
I think, off the top of my head blue items can have upto 2 extra properties and rares upto 6.
So, if you where to memorize all the names you'd instantly know how each item in the game is going to roll and be manipulated when you recraft it.
You can also have an item on your cursor and then type /itemlevel into the chat windows to see its level, this helps out comparing items and if its worth spending materials to upgrade or change it over your current item.
As for your specific requirements, its hard to advise without knowing your class and how your planning to spend your passives.
Hope this helps.