All Alchemy Stones "share" a recipe. What you get will be RNG, and then you IF you got a good one, you can Polish or Grow it to be better.

But, you're probably reading this because you want to complete the quest for the "Free" Inverted Garmoth's Heart, so that will be covered first.
(If you are interested in that guide, click my profile image)

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HOW TO USE FOR INVERTED GARMOTH'S HEART

Use Grinding on the Alchemy Stone you made to make Alchemy Stone Shards. This works on any Alchemy Stone Type that has been crafted.

You need 1,500 Alchemy Stone Shards to complete the quest [Chapter 11] Barbarian's Cauldron.

The amount you get is slightly influenced by the Grade/Rarity of the Alchemy Stone you grind, but is ultimately RNG.

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THE BASE RECIPE

10 Sinner's Blood --- recipe: 2 "Blood 2", 1 Clear Liquid Reagent, 1 Powder of Flame, 1 Bloody Tree Knot
10 Pure Powder Reagent --- recipe: 1 Weed, 1 Silver Azalea, 1 Sugar, 1 Purified Water
10 Clear Liquid Reagent --- recipe: 1 Weed, 1 Sunrise Herb, 1 Salt, 1 Purified Water
10 Shining Powder --- a byproduct from making the above
10 Powder of Time --- buy from the Central Market or send workers to these nodes: Glish Swamp, Quint Hill, Omar Lava Cave, Ancient Fissure, Abandoned Iron Mine, Holo Forest

("Blood 2" is a category of bloods that can be substituted for each other, which are: deer, sheep, pig, waragon, ox, llama, goat)

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TYPES OF CRAFTABLE ALCHEMY STONES

DESTRUCTION --- increases offensive stats: All AP, All Accuracy, Ignore All Resistance, Attack Speed, Casting Speed

PROTECTION --- increases defensive stats: All Damage Reduction, All Evasion, Max HP, All Resistance

LIFE --- increases stats relevant for lifeskills: Alchemy/Cooking Time, Processing Success Rate, Weight Limit, Gathering/Fishing Speed, Gathering Item Drop Rate

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GRADES OF CRAFTABLE ALCHEMY STONES

Imperfect, Rough, Polished, Sturdy, Sharp, Resplendent, Splendid, Shining

The higher the Grade, the higher the stats.

To see all the possible stats, open the Central Market. *Be prepared for sticker shock.*

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WHAT ABOUT THE COLORS / RARITY?

This also effects stats of your Alchemy Stone, by increasing how many there are.

The rarities are: White, Green, Blue, Yellow

As an example: a White-rarity Shining Alchemy Stone of Life will have 2 stats, a Green-rarity will have 3, Blue-rarity 4, and Yellow-rarity will have 5.

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ABOUT POLISHING

Polishing increases the EXP of your Alchemy Stone. This is done so you can Grow your Alchemy Stone and can increase its Rarity, Grade, or both. Polishing can only be performed on Polished or higher Grades. The material necessary to Polish is determined by its Type.

DESTRUCTION --- requires Pure Ores, e.g. Pure Iron Ore

PROTECTION --- requires Sturdy Plywoods, e.g. Sturdy Birch Plywood

LIFE --- requires Special-grade Crops, e.g. Special Sunflower

Most of these are easy to obtain on the Central Market.

You can access the UI for your Alchemy Stone by opening your Inventory Window, then clicking the Alchemy Stone button.

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ABOUT GROWTH

Growth is what can increase the Grade, Rarity, or both of your Alchemy Stone.

You can attempt Growth after it reaches 80% EXP from Polishing it, but the higher the EXP the higher your chance of success. If it does not succeed, the Stone can degrade or break and you will lose 50% of the Stone's EXP. If it succeeds, the EXP will reset to 0%.

To attempt Growth, you simply use 1 Black Stone (Weapon).

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HOW TO USE

Equip your Alchemy Stone by right-clicking it in your Inventory. Press U on your keyboard to activate it. If you want it to keep running automatically, such as while grinding or PVPing, click the checkbox under it in your Equipment Panel.

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HOW TO RECHARGE

Using it uses Durability, and that's restored via the Alchemy Stone button in your Inventory.

Most people just use Mystical Spirit Powder, as it's easily obtained and relatively cheap compared to the value of the stone being used.

Mystical Spirit Powder is obtained by Grinding down Destruction, Guardian, or Life Spirit Stones. They are mob drops that can be traded on the Central Market.

Note that regular Alchemy Stones cannot be Grinded to make Mystical Spirit Powder -- you'll just make Alchemy Shards.

Other items that can be used to Recharge are: Alchemy Reagents, Alchemy Bloods (Sinner's Blood), Elixir Oils (Oil of Storms).

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ADDITIONAL UPGRADES

If you have a Yellow-rarity Sharp or better Destruction or Protection Alchemy Stone, a Perilla's Star, a Khan's Heart: Destruction, a Khan's Heart: Protection, or a Vell's Heart, you can upgrade it to have additional protective effects.

The effects added are: DP +2, Monster Damage Reduction Rate +1%, All Resistance +2%

Doing so requires a Blessed Soul Fragment, which you'll Heat the following for:

10 Forest Fury, 50 Magical Shards, 100 Black Stone (Armor), 200 Crystallized Despair.

Note: Crystallized Despair can be bought on the Central Market or grinded from Elvia monsters.

DO NOT Polish or Grow an Alchemy Stone that has been Blessed -- the upgrade and Blessed Soul Fragment will disappear if the Growth attempt is failed.

After using the Blessed Soul Fragment, your Alchemy Stone will then have Blessed in its name, e.g. Blessed Vell's Heart.