Welcome to our Pain Management Forum. I am glad that you found us and took the time to post.
Imagining reports can be difficult to understand. You may want to visit our Radiology Forum at this address: http://www.medhelp.org/forums/Radiology-/show/905
Basically your MRI says that you have numerous reasons for pain. Any time you have nerve impingement it can produce pain. You also have disc protruding out of their normal space. Stenosis is another term for narrowing....which usually compresses nerves which results in more pain.
Your MRI also says you have mild bilateral facet degeneration. The actual joints of the spine which are called the "facets" have the beginning of osteoarthritis and the body has laid down some extra bone (degeneration) at the facet which will show up on the MRI. Moderate means that the bony changes are more significant. There is really no specific treatment for this condition. Staying mobile is usually important with degeneration. Most ppl have some degree of this by the time they reach forty or fifty. Your stated age is far from this so I would want to know (from my physician) why you already have degeneration.
I know I haven't address every thing on your MRI report. Hopefully the Radiology Forum will do this for you. If not please ask again and I will go through each one with you.
Walking is usual a good activity for everyone as is some form of exercise. However if you can work out and how you will work out should be determined by your physician. If you are working and it is not causing extreme pain I would continue to work until your physician tells you otherwise.
Please keep in touch and let us know how you are doing. We will look forward to your updates.