http://crankeye.com/?page=downloadsThere's one called Zorn's Rm2K tool. It has a bunch of name generators, and although it don't give the greatest names most of the time, it gets your mind thinking in the right direction. It's probably easier looking through the list of names it gives and finding one that sounds good, too (It's what I do. No use in clicking that random button when they're all there, right?)
If you want some impromptu names for things, then try using diamond/ elven/ crystal/ battle-hardened/ Yttrium (Just because it sounds cool)/ [Insert type of weapon here] of the Assassin (Or something to that effect)/ Obsidian/ etc. Just think of some adjective and then put a different name of the same weapon (Blade = Sword, Hatchet = Axe, Zwiehander = Huge 2 handed sword, Poleaxe/Partisan/Voulge/Halberd = Spear)
As far as items are concerned, you can think outside the box and use things like food or fruit for health & magic, and something like "The spice of life" for a Phoenix Down (Gained 4 The spice of life's!
)
Ha, I'm not too good with item names... Oh well, I hope I helped at least a little, and try out that Zorn thing; it might help.