It could also be that the world tendency has shifted (I don't recall if that's the proper term). Certain actions you do will change world tendency, and day to day changes will occur if your playing online sometimes. The more a world shifts to black, the stronger/more resilient enemies become and the more souls you get for killing them.
IIRC, world tendency shifts when:
Kill a Boss = it gets lighter
Kill a primeval demon = it gets much lighter
Die while in body form = it gets darker.
Kill certain NPCs = it gets darker.
There are definitely other causes, and checking the Demon's Souls Wiki is a better place to get the information. Here's a link:
http://demonssouls.wikidot.com/
Edit: Also, your character tendency could have shifted also, which alters how much health you have and may also alter damage output, but I forget on this point. The wiki also has information on this.
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