Act I
Dr. Caius bursts into Sir John Falstaff’s room in the Garter Inn, accusing him of unseemly behavior the previous night. He further accuses Falstaff’s two henchmen, Bardolph and Pistol, of having robbed him while he was drunk. Unable to obtain reparations, Dr. Caius leaves in a fury. Falstaff contemplates the large bill he has run up at the inn. He informs Bardolph and Pistol that in order to repair his finances he plans to seduce Alice Ford and Meg Page, both wives of prosperous Windsor citizens. When Bardolph and Pistol refuse to deliver the letters Falstaff has written to the two ladies, Falstaff instructs a page to do so instead. He then ridicules Bardolph and Pistol’s newly discovered sense of honor, before throwing them out of his room.

The Garter Inn. Alice Ford and Meg Page laugh over the identical love letters they have received from Sir John Falstaff. They share their amusement with Alice’s daughter Nannetta, and with their friend Mistress Quickly. Ford arrives, followed by four men all proffering advice: Dr. Caius, whom Ford favors as Nannetta’s future husband; Bardolph and Pistol, who are now seeking advantageous employment from Ford; and Fenton, who is in love with Ford’s daughter Nannetta. When Ford learns of Falstaff’s plan to seduce his wife, he immediately becomes jealous. While Alice and Meg plan how to take revenge on their importunate suitor, Ford decides to disguise himself in order to pay a visit to Falstaff. Unnoticed in the midst of all the commotion, Nannetta and Fenton manage to steal a few precious moments together.

第一幕
卡猶士醫生闖入法斯塔夫爵士在嘉德旅館中的客房，指責他昨晚行為不檢，而爵士的兩位部下巴爾道夫和皮士多爾更趁自己酒醉搶走他的財物。法斯塔夫爵士駁斥並沒有這一回事，卡猶士醫生憤怒地離開了旅館。法斯塔夫爵士為欠下的大筆住宿費用而煩惱，因此計劃勾引溫莎市兩位富有的太太──愛麗絲．福德和梅格．佩吉，以解決錢債上的問題。可是巴爾道夫和皮士多爾卻拒絕替他送信給兩位女士，法斯塔夫只好請來一個僕人代為送信。他譏諷部下們心中自以為是的正義感，把他們趕走了。

在嘉德旅館，愛麗絲和梅格對著從法斯塔夫爵士那裡收到同一內容的兩封情書邊讀邊笑。她們與愛麗絲的女兒娜內塔和她們的密友逵克雷夫人分享這樁趣事。這時，愛麗絲的丈夫福德帶著四個人到來，當中有福德為娜內塔看中的未來丈夫卡猶士醫生、轉投福德的巴爾道夫和皮士多爾、以及與福德的女兒娜內塔處於熱戀中的芬頓。福德得知法斯塔夫竟然想勾引他的妻子，立刻妒火中燒。與此同時，愛麗絲和梅格亦打算報復這個惹人討厭的追求者。於是福德決定喬裝打扮隱藏身分，親自拜訪一下法斯塔夫。娜內塔與芬頓趁著混亂之際，眉來眼去，暗送秋波。


Act II
The Garter Inn. Feigning penitence, Bardolph and Pistol rejoin Falstaff’s service. They show in Mistress Quickly, who informs Falstaff that both Alice and Meg are madly in love with him. She explains that it will be easier to seduce Alice, since her husband is out of the house every afternoon, between two and three. Falstaff joyously anticipates his seduction of Alice. Bardolph now announces that a “Mister Brook” (Ford in disguise) wishes to speak to Falstaff. To Falstaff’s surprise, “Brook” offers him wine and money if he will seduce Alice Ford, explaining that he has long been in love with the lady, but to no avail. If she were to be seduced by the more experienced Falstaff, she might then be more likely to fall a second time and accept “Brook.” Falstaff agrees to the plan, telling his surprised new friend that he already has a rendezvous with Alice that very afternoon. As Falstaff leaves to prepare himself, Ford gives way to jealous rage. When Falstaff returns, dressed in his best clothes, the two men exchange compliments before leaving together.

Ford’s house. Mistress Quickly, Alice and Meg are preparing for Falstaff’s visit. Nannetta tearfully tells her mother that her father insists on her marrying Dr. Caius, but Alice tells her daughter not to worry. Falstaff arrives and begins his seduction of Alice, nostalgically boasting of his aristocratic youth as page to the Duke of Norfolk. As Falstaff becomes more amorous, Meg Page interrupts the tête-à-tête, as planned, to announce (in jest) that Ford is approaching. But just at that point Mistress Quickly suddenly returns in a panic to inform Alice that Ford really is on his way, and in a jealous temper. As Ford rushes in with a group of townsfolk, the terrified Falstaff seeks a hiding place, eventually ending up in a large laundry basket. Fenton and Nannetta also hide. Ford and the other men ransack the house. Hearing the sound of kissing, Ford is convinced that he has found his wife and her lover Falstaff together, but is furious to discover Nannetta and Fenton instead. While Ford argues with Fenton, Alice instructs her servants to empty the laundry basket out of the window. To general hilarity, Falstaff is thrown into the River Thames.

第二幕 
假裝有悔意的巴爾道夫和皮士多爾重新回到法斯塔夫那裡，還帶來了逵克雷夫人。逵克雷夫人告訴法斯塔夫，愛麗絲和梅格都愛上了他。她更提示他可以趁愛麗絲的丈夫在下午外出時與愛麗絲幽會。法斯塔夫得到這消息後，覺得勾引愛麗絲勝券在握，欣喜若狂。這時候，巴爾道夫說有一位「布魯克先生」（由福德假扮）求見法斯塔夫。這位「布魯克先生」說他仰慕愛麗絲．福德已久，但始終無法得到她的芳心，他向法斯塔夫送贈了一些銀錢美酒，希望由法斯塔夫向她發動追求：如果她能夠為經驗更加豐富的法斯塔夫所動，那麼她之後願意接受「布魯克」的可能性也就會大得多。法斯塔夫同意參與「布魯克」的計劃，並告訴他的新朋友，他已經和愛麗絲約好在當天下午見面。法斯塔夫暫別滿腔怒火的「布魯克先生」，提前離開為約會做準備。他穿著自己最好的行頭回來，與「布魯克先生」互相奉承著一同離開。

在福德家，逵克雷夫人、愛麗絲和梅格正準備迎接法斯塔夫的到來。娜內塔為被父親逼迫與卡猶士醫生成婚而向母親哭訴，但愛麗絲卻讓娜內塔不用擔心。法斯塔夫來到福德家後立即開始對愛麗絲展開追求，吹噓著自己為諾福克公爵當侍僕的往事。梅格．佩吉按照計劃出來打斷他們的談話，謊稱福德馬上就要回來。同一時間，逵克雷夫人慌張地通知愛麗絲，滿腔妒火的福德真的正帶著一班人怒氣衝衝的趕回來。法斯塔夫驚慌之下四處尋覓可藏身的地方，最後躲進了一個巨大的洗衣筐中。娜內塔和芬頓亦馬上躲了起來。回到家後，福德和其他人開始搜查整個屋子。福德聽到有接吻的聲音，以為可以當場捉到他的妻子和法斯塔夫，怎知卻發現是他女兒娜內塔和芬頓在接吻，更是怒不可遏。正當福德與芬頓爭吵的時候，愛麗絲吩咐僕人們將洗衣筐中的東西倒出窗外。眾人看見法斯塔夫被扔進了窗外的泰晤士河中，紛紛笑了起來。


INTERMISSION
中場休息


Act III
Outside the Garter Inn. A wet and bruised Falstaff laments the wickedness of the world, but soon cheers up with a glass of mulled wine. Mistress Quickly persuades him that Alice was innocent of the unfortunate incident at Ford’s house. To prove that Alice still loves him, she proposes a new rendezvous that night in Windsor Great Park. In a letter that Quickly gives to Falstaff, Alice asks the knight to appear at midnight, disguised as the Black Huntsman. Ford, Nannetta, Meg, and Alice prepare the second part of their plot: Nannetta will be Queen of the Fairies and the others, also in disguise, will help to continue Falstaff’s punishment. Ford secretly promises Caius that he will marry Nannetta that evening. Mistress Quickly overhears them.

Windsor Great Park. As Fenton and Nannetta are reunited, Alice explains her plan to trick Ford into marrying them. They all hide as Falstaff approaches. On the stroke of midnight, Alice appears. She declares her love for Falstaff, but suddenly runs away, saying that she hears spirits approaching. Nannetta, disguised as the Queen of the Fairies, summons her followers who attack the terrified Falstaff, pinching and poking him until he promises to give up his dissolute ways. In the midst of the assault Falstaff suddenly recognizes Bardolph, and realizes that he has been tricked. While Ford explains that he was “Brook,” Quickly scolds Falstaff for his attempts at seducing two younger, virtuous women. Falstaff accepts that he has been made a figure of fun, but points out that he remains the real source of wit in others. Dr. Caius now comes forward with a figure in white. They are to be married by Ford. Alice brings forward another couple, who also receive Ford’s blessing. When the brides remove their veils it is revealed that Ford has just married Fenton to Nannetta, and Dr. Caius to Bardolph. With everyone now laughing at his expense, Ford has no choice but to forgive the lovers and bless their marriage. Before sitting down to a wedding supper with Sir John Falstaff, the entire company agrees that the whole world may be nothing but a jest filled with jesters, but he who laughs last, laughs best.

第三幕
在嘉德旅館外，渾身濕透又遍體鱗傷的法斯塔夫正詛咒著這個世界的邪惡，但馬上就喝著熱酒振作起來。此時，逵克雷夫人安慰他，說愛麗絲是無辜的。為了證明愛麗絲仍然愛著他，她提出當天晚上讓愛麗絲在溫莎大公園與他見面。愛麗絲在達克雷夫人轉交法斯塔夫的信中，要求他在午夜裝扮成黑獵人現身。福德、娜內塔、梅格和愛麗絲則準備好第二步的報復行動：娜內塔將扮成精靈王后，率領「精靈」們再好好懲罰法斯塔夫一頓。於此同時，福德暗中答應卡猶士醫生，娜內塔將會在當晚嫁給他，卻被逵克雷夫人偷聽到對話。

在溫莎大公園，娜內塔與芬頓重逢，而愛麗絲已經準備好鬼點子讓福德為他們完婚。眾人趕緊藏好身等待法斯塔夫到來。愛麗絲在凌晨出現，並向法斯塔夫表明愛意。但她突然聲稱聽見了精靈們的聲音，立刻跑走了。此時，娜內塔假裝成精靈王后現身，命令「精靈」們一起攻擊法斯塔夫直到他投降，承諾放棄他的荒淫行徑。此時，法斯塔夫在攻擊他的人群中認出了巴爾道夫，才發覺自己被人愚弄。福德承認自己就是「布魯克先生」，而逵克雷夫人責罵法斯塔夫胡作非為，竟膽敢勾引兩個年輕的高尚女性。法斯塔夫只好承認被大家幽了一默，但同時指出這一連串事件的發生其實也是出於他智慧的安排。這時，卡猶士醫生帶著一個白衣人上前，請福德為二人成婚，而愛麗絲亦帶來一對準備結婚的情侶。當新娘們掀起頭紗，福德才發現自己竟然把娜內塔嫁給了芬頓；而卡猶士醫生則「迎娶」了巴爾道夫。在眾人的嘲笑中，福德無可奈何地接受了這一婚事。眾人見此種種趣事，無不認同世界只不過是一個充斥著小丑的笑話，誰會笑到最後，誰才笑得最好。