There are various ways to die, but the end result is always the same, you will respawn at the bindstone you are bound to with low health and mana and an empty inventory & paperdoll (very few items are exceptions).
Your last death location will be visible on map and you have 30 minutes to get your stuff back before the grave despawns.
Beware that your grave can be looted by another player before you get back to it.
When you are on the death’s door, you can be either ganked or resurrected by another player with the Gank and Revive skills respectively, that every player has from the start. If you know that there is no one to get you up you can press SPACE to end the wait (after the bar has filled about a quarter).
There are times when the heads fly, meaning instant death, from which you cannot be revived, but these do not happen as often as “normal dying”.