in order from left to right: short bow, long bow, crossbow, phoenix crossbow, arrows, and crossbow bolts.
the short bow is the weakest weapon of the four the long bow is stronger but crossbows are stronger and you are able to use shields with them. The Phoenix crossbow is rumored to be stronger than a normal cross bow
Ranging is best for attacking enemys from far away. When attacking a monster or computer player its best to get them behind an obstcle where they cant reach you (example:table, bed, etc.)