Best advice is to ask for advice on a backpackers website. There's bound to be one.
What you are thinking of doing sounds awesome and all that but in reality it will be tough and probably frustrating at times. I've had a few friends/aquaintences who have done similar things before and they had similar advice for each other.
1) No matter what happens you will need some form of emergency funds to get you and your friend back home/to safety if anything should happen. You do not want to be stuck in some foreign country without an exit strategy.
2) Have enough money so that you can both feed yourselves every day of your trip. Running out of food in the middle of the city/countryside with no means to procure any is the quickest way to have a
bad day. Keep this money in a bank account you can access from any country so that you are never short of the basic essentials.
3) Learn some basic phrases from all the countries you plan to visit. Europe has many countries with some very different languages and outside of the cities, finding someone who speaks English can be rare particularly amongst older people. Keep a phrase book handy at all times, it'll also help you feel the cultures you're passing through which is kinda the whole point.
4) Travel light as possible but always carry the following; Tent/shelter, good solid pair of hiking boots (at least £120's worth) and a few pairs of thick hiking socks,water purification tablets, torch and batteries,
first aid kit sleeping bag, tools like a knife, fire starter, fishing line and hooks, compass and maps and two sets of clothes (always keeping one set dry). Not a bad idea to carry some dried gravy stock cubes too, they'll make any thing taste better if you end up eating wild animals.
5) Brush up on basic survival skills. Learn how to make and cook on fires, fish without a rod, perform basic first aid, read maps and orientation and building/finding effective shelters. You don't have to be as good as Bear Grylls but a little knowledge goes a long long way in the wilderness. Maybe get in touch with a local scout group who might point you in the right direction.
If you're planning on a much more urban backpacking trip then most of your time will probably be spent working in bars etc gerund paid under the table so make sure you are both well experienced and capable of doing these jobs. Invaluable to you will be a list of places which are well known for hiring foreign backpackers, again this is probably he kind of information you might get from a back packers website and not a gaming community
I wish you the best of luck in your travels, and so long as you have made all the right preparations and contingency plans, I'm sure you'll have an awesome time, meet some incredible people, visit some fantastic places and walk away with a much more open mind to the human experience
Ah yes, and always bring a towel
