Here's a list of standard knitting abbreviations I use in my patterns and other posts. Any pattern-specific abbreviations will be described when they're used. Also, I will expand this list as needed.
K: Knit
P: Purl
Kf&b: increase by knitting into the front and back of the stitch
M1: make 1, or increase by picking up the bar between the stitch just knitted and the next stitch, and knit into the back loop of this picked-up bar
St (or sts): stitch, or stitches
DPN: double-pointed needle
1x1 rib: K1, P1 ribbing (also, 2x2 rib is K2, P2 ribbing)
SW: superwash
BFL: Bluefaced Leicester wool