Which tool is commonly used to manage hardware and software configurations in a workstation?

The Device Manager is the tool specifically designed to manage hardware components and drivers within a workstation. It allows users to view and control the hardware connected to the computer, such as printers, displays, network adapters, and storage devices. Through Device Manager, users can install or update drivers, enable or disable devices, and diagnose hardware issues.

This tool provides a centralized view of all the installed hardware and their statuses, making it an essential component for configuring hardware configurations effectively. While other tools like the Control Panel can alter settings for both hardware and software, Device Manager's focused capability on managing devices distinguishes it as the most appropriate choice in this context.