[Charlievox]

You can create an unlimited number of accounts. You can have and play up to 8 characters on each account, one at a time.
However if you have characters from two or more accounts logged on from the same IP address at the same time, questions WILL be raised!
It is possible to get an IP exception if you and your spouse, child, room mate, live in sex slave or whatever want to both play at the same time. But you will be watched and there are certain behaviors that can indicate to the devs that one person is attemptin to play two characters and they will smite first and ask questions later.
Just don't do it. Not even for a quick item or plat transfer. If you need to transfer stuff, find a friend you can trust and use him as a third party.