In Minecraft, you can do something called Enchanting. There are several ways to enchant your items (the items being mostly Weapons and Tools). They both have their difficulties, but it is useful to have different options! Option 1: If you have lots of Iron and Enchantment books, you can create an Anvil and enchant Weapons using enchanting books. This also means you can re-name the Weapon. Option 2: You can use Obsidian, Diamond and a book (regular) to craft an Enchantment Table. Then, you need to have lots of Lapis Lazuli and Xp, because they help enchant Weapons. Sadly, you can't re-name your Weapon, and there is also the problem of not knowing what the Enchantment says.
Enchanted Weapons have the advantadge of being more powerful, longer lasting or lucky (giving you more chance of a rare drop). You can go to Enchantments-Minecraft Wiki to find out about these Enchantments.