thumb?
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Four (4) letter word from the word PARTY: part. prat. arty. tray. prat. pray. tarp. rapt. paty. Five (5) letter word from the word PARTY: praty. yrapt.
A valve?
peice p e i c e
Daily is a good word for a 5 letter word for everyday.
thumb
Glove.
Tricky question. I don't think there is a word that specifically means "Worn on the hand". There are plenty of five letter word things that are worn on the hand. Like gloves, and rings.
elbow
diode
anklethigh
petal?
piece
Water
index
third
If you mean a storage chest, then trunk is a 5-letter word for it. If you mean the upper part of the body, then torso is a 5-letter word for it.