--B+ is the alternator current output to the batteries or loads
--B- is the alternator ground. Many are grounded through the case and mounting BUT best is the direct ground to the B- terminal. Some external regulators require an actual at the alternator ground so this would be the place for that also.
--W is a tachometer signal.
--L is the exciter circuit to give the alternator a kick to start producing voltage which can be under some circumstances a problem at low or idle revs. Often done through a warning lamp.
--S is the sense wire that can when available be lead to the battery + which over rides the internal sensing function. Usually set up so if the S fails the internal regulator will pick up the sense function.
--F is the field which you are unlikely to find on any modern alternator. THis would go to an external regulator.
NOt all alternators have all of these connections.
I have attached a good explanation I just found. There are lots of others. If there are other terminal designations you find simply google them as there are LOTS of these postings available for us to peruse.
http://www.autoshop101.com/forms/alt_bwoh.pdf