Does anybody know if there is a way to change, for example, the damage for my fiery sword? Or the defense of my armor? These values have to be somewhere, right? Anyone who knows where they are and how i can edit them?
Looks like they are in Terraria.exe as I don't see data files for them. You might be able to decompile the game, it's written in .NET.
I haven't had much luck decompiling, Reflector keeps crashing when parsing Items.cs.
Another way would be to alter the stats in memory while the game is running with something like Cheat Engine. It can be a bit tricky finding the values though.