Meditation
Similarly to intelligence, the meditation skill increases the rate in which your character passively recovers mana. Actively using meditation vastly increases this recovery rate, provided that you stop moving and do not perform any actions.
Note that the effects of spells, or bandages that were previously being applied before meditating, will not break your concentration.
Should your concentration break, you may be subject to a cooldown period before using the meditation skill again, depending on how long it has been since the skills initial use.
Training Meditation
Meditation is trained passively as your character recovers mana. There are various methods to spend your characters mana points, the cheapest being the repeated equipping and removal of a magic wizards hat. These hats are purchasable from Mage NPCs.