Higher quality items gives more XP comparable to lower ones, for example: rare dagger will give less XP than epic and epic will give less than legendary etc.If you have each item of same level and quality dagger will give him more XP than axe and axe will give more XP than hammer - therefore its adviced to use most preferred items(green) on upgrading horcrux keys. For example: If you take Sean, he likes dagger(green), axe(yellow) and hammer(red). Preferred hero items(Green) give more XP then less preferred(Yellow, Red).You can level up given key for each hero by consuming blue and higher crafted items.Horcrux keys can be bought only with diamonds.
After reaching certain level you can unlock 8th slot(buying horcrux key).To be able to attend trials you need to unlock horcrux keys. Trials are located in tavern on the bottom left side.