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Most of the formatting you’ll want to do can be done from the edit bar. But sometimes it’s easier or faster to use code. Discourse supports some BB Code, some Markdown code, and some HTML.
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Bold Text
BB Code: This is bold text.
HTML: This is <b>bold text</b>.
HTML: This is <strong>bold text</strong>.
Markdown: This is bold text.

Italic Text
BB Code: This is italic text.
HTML: This is <i>italic text</i>.
HTML: This is <em>italic text</em>.
Markdown: This is italic text.

Bold Italic Text
BB Code: This is bold italic text.
HTML: This is <b><i>bold italic text</i></b>.
HTML: This is <strong><em>bold italic text</em></strong>.
Markdown: This is bold italic text.

Underline Text
BB Code: This is underline text.

Strikethrough Text
BB Code: This is strikethrough text.
HTML: This is <s>strikethrough text</s>.
HTML: This is <strike>strikethrough text</strike>.
Markdown: This is strikethrough text.

Inserted Text (Turns text background green)
HTML: This is <ins>inserted text</ins>.

Deleted Text (Turns text background red)
HTML: This is <del>deleted text</del>.

Superscripts
HTML: This is a superscript: πr<sup>2</sup>.

Subscripts
HTML: This is a subscript: H<sub>2</sub>O.

Small Text (Makes text smaller)
HTML: This is <small>smaller text</small>.

Big Text (Makes text bigger)
HTML: This is <big>bigger text</big>.

Horizontal Rule
HTML: <hr>

Keyboard Text (Shows text in a little box)
HTML: <kbd>These boxes show keyboard text.</kbd>

Preformatted Text (Maintains spacing in text)
HTML:
<pre>This text is preformatted.</pre>

Quoted Text
BB Code:

HTML: <blockquote>This is quoted text.</blockquote>
Markdown: >This is quoted text.

Quoted Text With Attribution
BB Code:

Hyperlink
BB Code: A link to the Forums
HTML: A link to the <a href=“http://forums.nanowrimo.org/”&gt;Forums&lt;/a&gt;
Markdown: A link to the Forums

Email
BB Code: Send me some [email=johndoe@fakeaddress.com]email!
HTML: Send me some <a href="mailto:johndoe@fakeaddress.com">email</a>!

Spoiler Text (Shows a clickable spoiler. There’s also a blurred version.)
BB Code:

Click to show or hide

SPOILER!

HTML:
<details>
<summary>Click to show or hide</summary>
<p>SPOILER!</p>
</details>
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There are many other things that can be done with code, such as posting images, oneboxes, lists, and tables.

NOTE: Make sure the quote and /quote tags are on lines by themselves or it’ll break your quote.