Thanks for all the positive feedback everyone!
Kraken has very low magic defence so magic attack bonus isn't too important. It also require 87 slayer and a cave kraken task.
I'd recommend full black d'hide, mystic boots, god cape, glory, mystic hat, elemental shield ( or god book if you have one completed ), lunar/beacon ring and an iban's staff(e)/trident (I wouldn't recommend doing kraken if you don't have either of these staves).
Bring any shortbow and arrows for the tentacles.
The inventory should consist of just sharks and a teleport out ( and runes if using iban's blast ). You may also want to bring brews/restores if you think you'll get pked.
Keep in mind that the kraken cave is multi and if you get caught out by any pker, you're pretty much screwed so it's incredibly risky, do it when there is the least amount of pkers active. Good luck!