Paints:
Gunze Mr Color - for the best quality, always a beautifully smooth  finish when dry, and no loss of detail.
Tamiya - very good quality (i don't recommend using lower quality than this), water soluble, airbrush quality finish every time with a regular brush.
Testors Model Master - oil based, will do if you cant find the above, best color "insignia yellow"
Armoury - great line of "washes" for adding realism, but there paints are better suited to lead miniatures

Putty:
Standard Testors White -  takes forever to dry, but finishes nice every time
Squadron Green - ONLY USE ON RESIN MODELS - Gets hot as it dries.
Milliput - 2 part putty, can be used on any kit, great for filling in big areas, messy to work with

Brushes:
Always use camel hair brushes with water base paint!
Use Testors brushes only with oil based paints.

Glue and Adhesives:
Plastruct Plastiweld - the best for plastic models, makes joints seamless after sanding, needs 24 to dry for best results.
Jet - Super glue on steroids, bond everything VERY QUICKLY, including flesh, -Best on resin and vynal models
regular super glue - works in a pinch if you can't get the above.

Additional tools:
An air brush, even a cheap $20 one can lay down a smooth-seamless coat of white (or any other color) in minutes !!!
Exacto knives - great for trimming
A dremmel - the ultimate hobbyist power tool.
A set of small jewelers files - best for sanding items smooth - even in the cracks