We develop information field theory (IFT) as a means of Bayesian inference on spatially distributed signals, the information fields. A didactical approach is attempted. Starting from general considerations on the nature of measurements, signals, noise, and their relation to a physical reality, we derive the information Hamiltonian, the source field, propagator, and interaction terms. Free IFT reproduces the well known Wiener-filter theory. Interacting IFT can be diagrammatically expanded, for which we provide the Feynman rules in position-, Fourier-, and spherical harmonics space, and the Boltzmann-Shannon information measure. The theory should be applicable in many fields. However, here, two cosmological signal recovery problems are discussed in their IFT-formulation. 1) Reconstruction of the cosmic large-scale structure matter distribution from discrete galaxy counts in incomplete galaxy surveys within a simple model of galaxy formation. We show that a Gaussian signal, which should resemble the initial density perturbations of the Universe, observed with a strongly non-linear, incomplete and Poissonian-noise affected response, as the processes of structure and galaxy formation and observations provide, can be reconstructed thanks to the virtue of a response-renormalization flow equation. 2) We design a filter to detect local non-linearities in the cosmic microwave background, which are predicted from some Early-Universe inflationary scenarios, and expected due to measurement imperfections. This filter is the optimal Bayes' estimator up to linear order in the non-linearity parameter and can be used even to construct sky maps of non-linearities in the data. Comment: 38 pages, 6 figures, LaTeX; version accepted by PRD