Death
Death is not permanent, nor is it harmful. It merely serves as a warning that you were out of your league or ill-prepared for whatever you died fighting.

There is no penalty what so ever for dying, when you die the mini-map will turn gray, and instead of display the name of buildings or locations when moving around you will see three question marks.

These are just visual warnings to let you know you are dead incase you missed the status message, also while you are dead only Healer professions are visible to you that means you can not see monsters or other players and that way you know instantly when you goto a tile if there is someone there that can help you.

There are three ways to get brought back from the dead.

Healer
The first and most common way is to find and click on a Healer, you will then be brought back from the dead, if you had pets you will need to pay to have them brought back too (if they died).

Shrine of Life
In some Player Dungeons and System Dungeons when you die you may be lucky enough to find a shrine of life, these can ressurect you when you click on them.

Spell
Another player may take pity on you and cast a spell to bring you back to life.

If you die outside or inside a dungeon and get brought back to life outside you will be brought back to life on that square, however if you die inside a building/dungeon and get brought back to life inside your spirit will be thrust back into its body so you will be sent back to the room you died in.