I hear people talking about ilvls all the time and i have no clue what they are what they mean or how to check them.
Anyone want to educate me on this?

You can only do it with third party programs. Or if you know where the item dropped, baal for example would be ilvl 99.

any item dropped at baal?

I do believe so.

You are correct.

Any item dropped by Baal is ilvl 99, regardless of the mods on it. For example, it can be a magic amulet with +1 light radius, it's still ilvl99.
Just like Diablo ilvl 94 and Nihlatak ilvl 95

how can it be a ilvl 99 with such horrible mods on it?
so if you were to craft that magic amulet would there be a possibility of better mods?

You cant without 3rd party programs.

You need to understand that we're solely talking about the ilvl right now. Any item dropped by Baal is ilvl 99, it does not matter what mods the item has. Of course you can get better items by crafting these. However you need to be aware it also depends on your character level.

If you really want to spend a lot of time on crafting, I recommend you this guide Crafting Handbook