open(FILE1, '<file1.txt') or die("Cannot open first file: $!.\n");
open(FILE2, '<file2.txt') or die("Cannot open second file: $!.\n");

# Load up the second file into a hash,
# where each line of the file is a key.
%file2 = map { $_ => 1 } <FILE2>;

while (<FILE1>) {
   if ($file2{$_}) {
      print("Found $_");
   } else {
      print("Didn't find $_");
   }
}

__END__
file1.txt
=========
qwerty
snakegod
ebrine
tarot

file2.txt
=========
snakegod
ordo rosae moriatur
tarot
wrath of hibernia

output
======
Didn't find qwerty
Found snakegod
Didn't find ebrine
Found tarot