Wow, nice find! That is an especially good set-up with a decent amount of RAM and the ethernet card.

With your configuration you should be able to run iCab, which is probably the most suitable browser if you plan to access any fairly modern or complicated pages. One of my favourite word processors for older Macs is Microsoft Word 5.1 - unfortunately this isn't available for free but you may be able to get a copy from somwhere.