ToE H5/HoF
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Brand
Arkath the Dragon of Fire favours Brand, a sombre and unsociable Warlord whose face is hidden by a red cloth. It is rumoured that, in his youth, Brand made a mistake when experimenting with the Runes and suffered terrible scorches. This accident, however, did not deter him from continuing his studies. It is for his persistence and devotion that Arkath blesses him, rewarding him with supernatural ability in Rune Magic.
» Specialty» Attributes
Rune Artist
Chances of success with Fine Rune feat are increased by 20% from the start and by +1% for every level.
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» Skills
Advanced Runelore
Allows magical runes of 3-4 circles to be placed on own creatures in combat, temporarily giving them new battle abilities and characteristics.
Fine Rune
There is a 50% chance of not using up resources on rune activation.
Ebba
Among the Dwarves' most amazing heroines stands Ebba, small and ruthless, who was brought up by a family of bears. When she first appeared among them, few recognised that this nubbin of feral frenzy was in fact a Dwarf. But Ebba soon gained prestige and even the loyalty and adoration of those stern warriors of the North, the Bear Riders.
» Specialty» Attributes
Rider
Specialises in Riders. Bear Riders and Blackbear Riders in hero's army gain +1 to their Offense and Defense for every two levels of the hero, starting on first level.
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» Skills
Basic Runelore
Allows magical runes of 1-2 circles to be placed on own creatures in combat, temporarily giving them new battle abilities and characteristics.
Basic Attack
Increases damage dealt by your creatures in melee combat by 5%.
Tactics
Increases the area in which the hero can rearrange creatures before combat.
Erling
The tame white owl, Trolinga, who slumbers peacefully on Erling's shoulder, was with him when Erling returned from an extended winter trapping expedition. Questions about it meet only with a secretive smile. As well as the owl, Erling returned from that journey with a profound knowledge of Dwarven Rune Magic, and many Dwarves wonder just exactly where he went that winter, and who he met.
» Specialty» Attributes
Keeper of the Flame
Specialises in Priests. Rune Priests and Patriarchs in hero's army gain +1 to their Offense and Defense for every two levels of the hero, starting on first level.
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» Skills
Basic Runelore
Allows magical runes of 1-2 circles to be placed on own creatures in combat, temporarily giving them new battle abilities and characteristics.
Advanced Sorcery
Speeds up hero's casting in combat. Interval between two consecutive spell casts is reduced by 20%.
Helmar
Helmar began his miitary career as a fighting Rune Priest and was prominent among his brother soldiers for his austerity, his asceticism and his fanatical hatred of his enemies. Helmar's superiors soon took note and began to entrust him with the command of small units. Helmar learned how to spread his rage to his warriors, and is now famed as a Warlord whose troops are fierce and merciless in battle.
» Specialty» Attributes
Sacred Hammer
Each time the hero casts a light magic spell on a friendly creature, there is a chance that the ‘Righteous Might' spell will be cast freely upon the affected unit.
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» Skills
Basic Runelore
Allows magical runes of 1-2 circles to be placed on own creatures in combat, temporarily giving them new battle abilities and characteristics.
Advanced Light Magic
Allows hero to learn Light Magic spells of the fourth circle and makes Light Magic even more effective.
» Spells & War Machines
Righteous Might

Righteous Might (6 Mana)

Affected creature is filled with rage and a lust for blood, it gains bonus to attack.

Inga
This child of famous stonemasons did not turn out as expected. Instead of shaping the rock, Inga claimed to be able to "hear" it. Growing up, she spent so much of her time with the Rune Priests, studying the mysterious songs she heard in the bedrock, that she left her uncomprehending family to join them. Her attunement to the hidden whisperings of Arkath has helped her develop into an outstanding leader of the Rune Priests.
» Specialty» Attributes
Master of the Runes
With each level-up, the hero can spontaneously learn one more Runic Spell.
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» Skills
Basic Runelore
Allows magical runes of 1-2 circles to be placed on own creatures in combat, temporarily giving them new battle abilities and characteristics.
Basic Enlightenment
Hero receives +1 to one of his primary stats for every four levels including the levels already got and + 5% bonus to the experience gained.
Scholar
Allows the Hero to teach various spells to other heroes, effectively trading spells between spell books.
Ingvar
During the War Under the Mountain, it fell to Ingvar to protect Frostclef Pass. Only a handful of the three hundred Defenders survived, most of those from Ingvar's unit. Since then, the Warlord has become known as one of the Stone Halls' greatest commanders, and simple warriors -- the Defenders -- are his steadfast supporters in all his battles.
» Specialty» Attributes
Protector
Specialises in Defenders. Defenders in hero's army gain +1 to their Offense and Defense for every two levels, and +1 to their Hit Points for every five levels of the hero.
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» Skills
Basic Runelore
Allows magical runes of 1-2 circles to be placed on own creatures in combat, temporarily giving them new battle abilities and characteristics.
Basic Defense
Decreases damage dealt to your creatures in melee combat by 10%.
Vitality
Increases hit points of all your creatures by 2 (Particularly effective for large armies)
Karli
Karli spent many a year in the underworld smithies, studying ancient formulae and experimenting with various alloys and components in order to create the finest weapons possible. The warriors led by Karli have the best-balanced arms, giving them noticeable advantages in the battlefield.
» Specialty» Attributes
Sharp Blade
Specialises in Spearwielders and Skirmishers. Spearwielders and Skirmishers in hero's army gain +1 to their Offense and Defense for every two levels of the hero, starting on first level.
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» Skills
Basic Runelore
Allows magical runes of 1-2 circles to be placed on own creatures in combat, temporarily giving them new battle abilities and characteristics.
Basic Luck
Increases luck of all creatures in hero's army by 1.
Soldier's Luck
Guarantees that useful combat abilities of creatures in hero's army (like Squires' Bash, for example) will trigger more often.
» Spells & War Machines
Ammo Cart

Ammo Cart

Karli starts with an Ammo Cart.
King Tolghar (Campaign Hero)
Though a good man, Tolghar lives in constant fear: fear that he is not good enough for his people; fear that he is not pure enough for his god; fear that he may be taking the wrong decisions; fear that the chaos surrounding his country will eventually affect him. He is easily manipulated by counsellors and kin who have learnt to play his fears like a "bhak-zad" -- the Dwarven pipe organ that uses the hot air from lava vents to send bass notes echoing across their great caverns.
» Specialty» Attributes
King of the Stone Halls
All creatures in hero's army have "Rune of Thunderclap" effect permanently active (refreshes at the start of creature turn).
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» Skills
Advanced Runelore
Allows magical runes of 3-4 circles to be placed on own creatures in combat, temporarily giving them new battle abilities and characteristics.
Greater Rune
Allows the same rune to be activated for the second time for triple resource cost.
Rolf (Campaign Hero)
Rolf is as at ease in the court as he is in the saddle. He is an accomplished courtier and certainly an adequate, if not outstanding, fighter. He is an important member of the clan, but is too politically astute to let the concerns of the outside get in the way of his political career. To be blunt: Rolf wants to be king. To do this he must prove his worth to all of the six clans who will select Tolghar's heir. As such, he is entirely content that his dangerously competent half-brother Wulfstan is not around to mess up his plans.
» Specialty» Attributes
Golden Tongue
Neutral creatures are more likely to join this hero. Moreover victories provide this hero with gold and resources.
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» Skills
Basic Runelore
Allows magical runes of 1-2 circles to be placed on own creatures in combat, temporarily giving them new battle abilities and characteristics.
Basic Leadership
Increases moral of all creatures in hero's army by 1.
Diplomacy
Allows hero to effectively negotiate with hostile creatures. Increases chances and reduces costs of creatures that wish to join your army.
Svea
Svea spent her youth in the towns of the Silver League as part of the Dwarves' small embassy in the land of the Wizards. But while other Dwarves, depressed by their stay in the foreign country, were giving way to homesickness, Svea spent her time studying all the mysteries of the League's magical art. The outcome of her studies was the mastery -- unusual for a Dwarf -- of Lightning Magic.
» Specialty» Attributes
Stormcaller
Lightning-based spells of this hero are irresistible for the enemies (immunities and magic-proof still apply).
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» Skills
Basic Runelore
Allows magical runes of 1-2 circles to be placed on own creatures in combat, temporarily giving them new battle abilities and characteristics.
Basic Destructive Magic
Allows hero to learn Destructive Magic spells of the third circle and makes Destructive Magic more effective overall.
Master of Storms
Grants stunning effect to Lightning Bolt and Chain Lightning (first target only) spells.
» Spells & War Machines
Lightning Bolt

Lightning Bolt (5 Mana)

Deals lightning damage to selected enemy unit.

Wulfstan (Campaign Hero)
Wulfstan is a member of the Winterwind clan of Dwarves; he is strong and inured to the extreme conditions of the Dwarven mountains (not many Dwarves venture outside their subterranean cities). His travels in the exterior have also made him friendly with other peoples, a fact that for some more conservative elements is equivalent to being tainted. Having embarrassed the king once too often with his plain language and undiplomatic opinions, he has been more or less banished to the frontier where he is the captain of an important garrison.
» Specialty» Attributes
Border Guard
Hero has a bonus to his Defense (+1 Defense for each 2 hero levels) if fights are one day away from owned city.
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» Skills
Basic Runelore
Allows magical runes of 1-2 circles to be placed on own creatures in combat, temporarily giving them new battle abilities and characteristics.
Basic Logistics
Increases hero's movement speed over land by 10%.
Pathfinding
Reduces penalty for moving through rough terrain by 50%.
This information comes from the Heroes V release version (v2.1).

Thanks to sfidanza for the work on this page.
Thanks to ThE_HyDrA for creating and looking after the Heroes 5 section of Age of Heroes!