(1) Key Bindings

Movement

A = turn 90 degrees Left
S = about turn (180)
D = turn 90 degrees Right
W = forward

Other
Q = Quick save
I = Inventory
N = World Map
M = Local Map
ESC = go to Main Menu
F11 = toggle screen size

This is a somewhat long winded process:

(I) press 'P' (party) - all your characters should be displayed
(II) Mouse over to select the character you wish to alter
(III) press 'C' to go to the Character Info window
(IV) On the Equipment Menu panel (top Left) click on one of the items e.g. Armour
This will bring up 2 new panels:
Current Item (centre) - what the character is currently armed with or wearing
Equip (right) - a list of available items (equipped items are marked with a bracketed 'E''
(V) Mouse over each item to compare it - see Character Stats panel (bottom Left)
(VI) click new item to equip it
(VII) ESC to close the screen OR click on another item in the Equipment Menu panel e.g. Main Hand

You will need to go back to the Party screen for each character.