Apparently some people can sight-read ABC just as well or better than sight-reading standard notation.

As far as getting chords, there are supposedly software packages that will suggest chords for a tune - ABCMus is one although I've never gotten it to work (perhaps because I don't have the registered version?). Putting chords to a tune is an art. Knowing a little music theory and experimenting is a good approach.

To answer your specific question, you have a line of music that appears to be in 4/4 time with a default note length of 1/8 note. Then: A,8| means the first measure consists of a whole note, A below middle C (the comma means below middle C). The second measure is a quarter note on F, an eight note on G, then F, then a quarter note on E, then two eight notes on E. All these notes are in the octave that starts with middle C. And so on. The vertical lines are bar lines. The numbers after letters are timing marks (you multiply the number by the default note length). Note that you should have some spaces between notes, otherwise the notes are considered to be "beamed" together. If you're running Windows, go to the ABC homepage (link on other thread) and download ABC2Win - it does a good job of drawing the standard music notation from ABC notation.