A character attacks another, can he penetrate the other's armor, and how deep?
Okay. From your description it seemed it was something like that, but wanted to confirm.
[mvr] I thought that was the formula for angular momentum
That is the formula for angular momentum. You had mentioned momentum, levers, etc., and it didn't click in my brain. Angular momentum is related to a rotating object and its moment of inertia.
In any case, with regard to your questions regarding formulae - as mentioned in the guidelines in the Beginner's FAQ, the expectation is that you try to answer your question(s) yourself before posting. In this case, google is your friend, and, in general, much faster than posting a question and waiting a couple hours or even days for a response. Most, if not all, of the terms you asked about are "Google First Hits" - i.e., the first hit listed in the search results defined/described the terms quite nicely.
I guess I'm completely out of my depth here aren't I?
Yeah, it sounds like it. As your goal is to model armor damage from various impacts, and considering the terms you ask about to implement the actions, you should already have a good understanding of the physics involved, if not a good physics model setup for your characters. Alas, it appears you do not. E.g., you ask about formulas to calculate momentum in two situations, but there really is only one equation needed to describe a lever and fulcrum system. You also mention you would "like to calculate speed." Speed of what? Using what parameters? Those are rhetorical questions to help you understand that, at this point in the modeling you describe, that's like asking "How big is a box?"
I understand you want to add "realism" using principles of physics, even if in a limited way. Unless you already have a basic understanding of those principles, that's a bit difficult.
[ I want to ] determine the penetration of a blow against armor or flesh given contact area, the type of levering force, the angle of the blow, the distance the point of contact travels, the weight of the weapon, and the strength of the character. This is extremely complex, I know, so I'm looking for a happy medium of semi-realism
Considering the multitude of attributes you describe that you want to consider for the physics, the ship "Happy Medium" has sailed. I suggest you take just one of those parameters, and use a lookup table to determine a damage factor - e.g., strength-vs-damage-factor. Then, taking a much slower approach than you've described, refine the way you calculate the coefficients in that table by asking yourself questions such as "What causes 'damage'?" Speed at the end of the staff? Mass of the staff? ... Pick one of those answers, do a bit of research to understand how strength may relate to that parameter and work it into the equation for calculating the table entries.
That approach will force you [ pun intended ] to get a better understanding and familiarity with the physics involved in however you decide to model your characters.