This glitch allows you to easily repair and/or recharge items (armor, weapons, and staves) without having to carry around hundreds of pounds of hammers and soul gems, or having to visit a merchant in town all the time.

STEPS:
1: Have any item

2: Duplicate the item so you have two of them (or just buy an exact duplicate, but rare items have to purchasable duplicates)

3: While the items are UNequipped, go to the menu and hotkey them (there should be 2 of them) to any one of the hotkeys.

4: Use item to your heart's content (damage the item in some way)

5: Unequip the item using the hotkey button again. Then press the hotkey button one more time to re-equip it.

The item has been repaired and recharged. Go to your item menu to check it out for yourself. This works unlimited times, and as long as the item can be duplicated (or you can buy an exact duplicate) it should work.