In Archlord, Alchemy is first available with level 15 and gives you the possibility to create Metamorphosis potions which are able to morph you into a lot of creatures. To learn the Alchemy skill you must be level 15 and have 1,000 gold. And you must to learn the required skills you need to visit an Alchemist and learn the basic Alchemy skill and buy yourself an Alchemy cauldron.
It is same to Loot skills (Archlord gold), basic Alchemy and Cooking skills are available in your Crafting Skill window (J) and you also have to drag them to your skill bar. Last but not least, you could class Item Combination under crafting. There are quite a few manuals spread over Chantra and essentially monster loot that will allow players to create weapons and accessories.
To be able to collect the needed resources for the potions you have to learn further Loot skills from the adventurer. In the case of Alchemy, this skill is Skinning which costs 1000 gold, requirement is level (Archlord online gold) 15. Once you learned the skills you will need to loot the creatures, you kill to gain items which are needed for the potions.