Lesser Reincarnation
Lesser Reincarnation allows you to retain your level and your equipment. It is a good choice if you’re interested in any of the following:

Changing around your skills, feats, enhancements
Redistributing your starting ability points
Changing the way you look
Upgrading a 28 point Adventurer character to a 32 point (non-drow) Hero character, as long as you have unlocked or purchased 32 point builds. This is a good choice if you’d like to upgrade one of your original 28 point build characters to have more ability points
Characters that undergo a Lesser Reincarnation do not lose items, quest or raid progress, Favor, Epic Destiny experience, or Cannith Crafting levels.

Heroic True Reincarnation
Heroic True Reincarnation allows you a fresh start as a more powerful character! A character that undergoes a Heroic True Reincarnation will continue their adventuring at a lower level, and will require a little more XP to level in the future, but will gain several benefits unavailable through other forms of reincarnation.

It is an excellent choice if:

You’d like to upgrade a 28 point build to have more ability points
You’d like to change your race or alignment
You’d like to completely redo your character, including what class they are
You like prestige and recognition for your accomplishments
You’d like to gain extra perks for your character
Characters who undergo a Heroic True Reincarnation will be level 1 after reincarnating if they are reincarnating into a non-Iconic Hero, or level 15 if they reincarnate into an Iconic Hero.

NOTE: Characters who are currently an Iconic Hero cannot undergo a Heroic True Reincarnation. Iconic Heroes have the option to undergo an Iconic True Reincarnation, described below.

The benefits of a Heroic True Reincarnation include:

+2 build points (up to 36 point builds.)
Class-based passive Heroic Past Life feats (which stack up to three times.)
Access to Class-based Active Heroic Past Life feats (which require the use of an available Feat slot.)
And more!
Undergoing a Heroic True Reincarnation will cause a character to lose all quest progress, including Favor, Raid completions, and Quest completions. Cannith Crafting levels will be retained, and items will be retained as well.

Epic Reincarnation
Epic Reincarnation is available to all characters who meet the following requirements:

The character must be at level cap
The character must have earned six million Karma in one of their Destiny Spheres
Epic Reincarnation allows a character to undergo many of the benefits of other forms of reincarnation, including the ability to re-select a character’s look, stat points, skills, feats, and more! Additionally, characters that undergo an Epic Reincarnation:

Retain their Epic Destiny progress, Race, Class levels (non-Epic levels)
Select an Epic Past Life feat (which stacks up to three times.)
Characters who undergo an Epic Reincarnation will return to the game at level 20. Characters will not lose their quest progress, and will retain their Favor, Raid completions, Quest completions, Cannith Crafting levels, items, and more.

Iconic True Reincarnation
Iconc True Reincarnation offers many of the benefits of other forms of reincarnation, but is specifically tailored to Iconic characters! Characters must meet the following requirements:

The character must begin the process as an Iconic Hero (although the character may use an Iconic True Reincarnation to switch to a non-Iconic class if they wish.)
The character must be at level cap.
Characters who undergo an Iconic True Reincarnation will return to the game at level 15 if they remain an Iconic Hero, or level 1 is they True Reincarnate into a non-Iconic class. The character will receive several benefits, including the ability to change their character’s look, stat points, skills, feats, and more! They will also select BOTH an Iconic Past Life and Heroic Class Past Life!

Lesser +1 (and more) Reincarnations
These types of Reincarnation allow you to change a level of your character’s class to a different class. The number after the plus (+) indicates how many class levels you may change. These are an excellent choice if:

You’d like to eliminate levels that you multiclassed
You’d like to try multiclassing with an existing character
You’d like to gradually change your character to be a different class without starting over

https://www.ddo.com/guides/ddo-reincarnation-guide
https://ddowiki.com/page/Reincarnation