By ship
If you plan to visit the southernmost islands of Lofoten, i.e. Værøy or Røst, you will need to take a ferry from Moskenes. Værøy is an around 1.5 hours sailing trip from Moskenes, and another approx. 2 hours to Røst.
By bus
Most places can be reached by bus. Students get a 50% discount on long trips.
By car
The main islands are easily covered by car. The E10 route links Hanoy in the extreme Northeast of Austvagoy island and à at the Southwestern tip of Moskenesoy through a series of bridges. Although the archipelago may look small on the map, the full crossing is a good 180 km along the E10 on a very windy road, with the usual Norwegian speed limits, but really due to the state of the roads don't expect to average much more than 50kph.. At the Southeastern tip, around Reine, the road furthermore becomes very narrow, so take your time along the way.
All the other secondary roads radiate from the E10, but note that some are even windier and narrower.
Also note, that petrol is available only in the larger towns, so make sure you fill up when you get a chance.
By bike
There are fairly expensive bikes for hire at various points around the islands and the E10, as a usually relatively unpopulated highway makes a good cycle path for short trips. In addition there are occasional cycle lanes, usually on bridges or around the outside of the many tunnels.