This word does not exist in English, but it's a handy one: it means "belonging/relating to the subject". If I talk about my stuff, this word would mean "my"; if the subject of the sentence is you, the same word would mean "your"; if the subject is someone else, the meaning would be "his" or "her".
Feminine nouns that end in a soft sign in nominative have the same ending in accusative. The adjective will always change into accusative as well.
In the accusative, masculine and neuter nouns that are inanimate keep the nominative ending, but the adjectives keep the nominative ending as well.
"Любить"="to love" when you talk about people (like here).
At the same time "любить"="to like" when you talk about inanimate things/objects: Я люблю молоко = I like milk. English "to love" in reference to inanimate things is much stronger than Russian "любить" and better corresponds to something like "обожать".