Golden Axe/Glitches

Looping holes
In Stage 4 there are two points where enemies can fall off the bottom of the screen and will then drop back in from the top of the screen in a slightly different location. See it in action in this YouTube video.

Kill Death Adder instantly
In Stage 6 of the MS-DOS version, if you use your magic as soon as Death Adder comes through the big doors he will fall through the doorway and into the ground, killing him instantly.

Due to timing differences this may or may not work on faster computers or via emulation.

Hovering knights
For some unknown reason, the two General Bitters at the end of Stage 7 can walk on the black nothingness of the chasm without falling in, and can even attack from it. If you knock them into it, however, they will fall down. No other enemies can do this, even in this same area.