Magicite is basically a type of magic. You find stones inside dungeons that are of a particular type of Magicite. Getting one of these stones allows you to use that type of magic during that dungeon. When you leave the dungeon you lose them all. There are six types of Magicite in the game:

• Fire
• Blizzard
• Thunder
• Cure
• Life
• Clear

You can combine these types and create more powerful spells.