What do I need to know in order to help with bug/papercut fixing?
I think the question is clear enough. One thing though, I'm interested in the programming part not something else.
Solution 1:
You'll find this 'How To Fix a bug' wiki page quite useful. It mentions about how to generate a patch or a branch merge with the fix.
Programming skills required depend on the application or the bug you are working on. If the bug is just a simple wording change you don't require much programming knowledge, just patience for Finding the line. ;)
I'd suggest you first have a look at the list of bugs, when you find something interesting, it will give you a better idea of what is required to fix that bug.
While working on a bug, make sure you mark the bug as In-Progress, as mentioned in the papercuts wiki.
If you have any questions while working on a bug, feel free to ask on the Papercuts Ninja mailing list.