To identify is to assign traits which sufficiently distinguish a specific element from similar elements in a specific context.
Identity is a trait or set of traits which sufficiently distinguish a specific element, or group of elements, in a specific social context.
Identical is a trait of two or more elements which can't be distinguished from each other within a specific context.
Identifying is a broad context which includes all mental relating of concepts.
Identification is especially associated with assigning traits such as constant type or variable-type: value/name to perceived or conceived instances of those type.