Quel'Zaram was one of two known weapons wielded by Anduin Lothar (the other was the Great Royal Sword). Lothar discovered this weapon on his youthful adventures with Llane Wrynn and Medivh. The sword impressed Medivh and he dubbed it Quel'Zaram - Thalassian for "high blade". The weapon's current whereabouts are unknown. This greatsword draws out the inner strength of the wielder, which manifests as a swirling golden glow about the blade.
Ashkandi is Quel'Zaram?
It is speculated that Ashkandi, Greatsword of the Brotherhood belonged to Anduin Lothar, due to reference to a "Brotherhood", and the initials A.L. carved on its hilt. As Ashkandi and Quel'Zeram are both greatswords (a kind of two-handed weapon), and have marginally similar appearance (though Ashkandi appears far more draconic) that they may in fact be the same weapon. Ashkandi may be a Draconic word applied to the sword. However, in the RPG Quel'Zaram and Ashkandi are two separate swords with different sets of stats. The Ashkandi article makes no connection between the sword and Anduin Lothar.
It may be possible that the Quel'Zaram has something to do/refers to Quel'Serrar, which is also called "The High Blade". The Quel'Serrar has a "Chance on hit: When active, grants the wielder 20 defense rating and 300 armor for 10 sec" which might be, what "This greatsword draws out the inner strength of the wielder, which manifests as a swirling golden glow about the blade" refers to. Also, the hilt of Quel'Zaram (pictured above) looks very similar to that of Quel'Serrar.
Some speculate that "Quel'Serrar" may be the original Darnassian word for "The High Blade" (Since the quest originates and ends in Dire Maul, an old Night Elven city), while "Quel'Zaram" is the Thalassian translation of the phrase. However, the two swords are not one and the same.