1. The word fare is normally a noun, The meaning of fare is the cost of a ticket on public transportation.
Ex - Since I only had INR 100, I could not afford the fare to ride the bus.

2. Fare can also be used as a verb. When fare is used as a verb, it means to perform in a certain way over a period of time.
Ex - Grandma is faring well since her operation last month.

3. Fair as an adjective can also mean that something is light in color.
Ex - A woman with pale skin and blonde hair can be described as having fair features.

4. Fair can also mean good, and it often used to describe the weather.
Ex - A sunny day with no wind is fair weather.

Fairly is another form of the word fair. It is an adverb. It is used to describe size, amount, or likelihood, and means that there is some of something.
Ex - When it is likely that you will go to a party, you can say that you are fairly sure that you will attend.