The Loom in Terraria is used to make a variety of clothing items.
Here, you could learn how to get and use one.
Some accessories can help, but it takes a while to get them and takes up valuable slots.
Get some Obsidian Skin Potions instead, and make dealing with lava easy.
Fireblossom x1
Found growing in The Underworld biome on Ash Blocks or when opening a Herb Bag.
Waterleaf x1
Found growing in the Desert biome on Sand Blocks or when opening a Herb Bag.
Obsidian x1
Made when Water and Lava collide in any biome or at any height.
Requires aPickaxe with at least 55 percent Pickaxe Power to mine, such as a Gold or Nightmare Pickaxe.