Stat points play a very significant role in Allods Online. There are 14 different stats in the game. You receive one stat point every time you level, which you can allocate into any stat you want.
Most of the stat points are received as gear bonuses, but the stats you get from leveling are still important, so it is a good idea to do some research before allocating them. Some general guidelines can be found on the Stats for each class page. Most build guides also include information about optimal stat allocation.
Resetting talent or stat points (respeccing) in this game is not an easy thing to accomplish, so do some research before allocating them. To reset talents, you need to acquire Water of Death. To reset stats, you need Water of Life. Bring any of them to your class trainer, and you'll be able to re-allocate the spent points.