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You can browse a few other threads here, and ask questions individually. The board is slow, so you can post, then come back tomorrow and see responses.
So here's my answers to a few of your questions.
To start, you don't need anything. A great way to start is to go to a state park, and hike (or other type outdoor setting if you're not in the USA). Go somewhere with trails, dress appropriately, and hike. The great thing about hiking is you a ready have what's needed for it. Legs and shoes. Stay on easy trails, and at least wear shoes with some grip, not some flat bottomed shoes or flip flops.
You can invest in hiking boots or trail running shoes. I have New Balance trail running shoes, and they're nice. I also have Merrell Moab boots for hiking, I love them. They can help protect your feet, and you'll like hiking more knowing your traction is better.
As you hike, you may want a few things. Get a small backpack. You don't need anything great to start, just something small. Get a small pack, you may even have one. Carry a bottle of water or 2 (depending on your hike), a camera if you want, maybe an extra layer if you get cold, map of the trail you're exploring. You don't need much else to hike a state park, unless it's a desert environment, or rugged mountain terrain.
For a cheap knife? /out/ sure likes the Mora companion. It's about $15. It's sharp, and will do any normal task you need. To be honest, you don't really need a knife for just hiking, but I still carry one. Personally I use a Buck Bantam knife. It's a folder, very sharp, super light, and comes in nice colors/designs.
If you get into staying somewhere overnight, you'll need more supplies, which I'll cover in my next post.
Pic related, a buck bantam knife that I carry.
