Easy Bake 1 will not be further developed, so Blender 3.6 will be the latest and most stable version of the addon. But that's where Easy Bake 2 comes to continue its work - https://blendermarket.com/products/easy-bake-2

You can, but the results can be unreliable. Easy Bake 2 has reliable metallic baking - https://blendermarket.com/products/easy-bake-2

A texture is a 2D image of a color map, roughness map, normal map, bump map, like a png, jpg, tga... A material is the combination of those textures put together.

In other words, the texture is the sources from which a material is made, and a material is the "surface properties" used on objects and surfaces.

And now you just take these combinations and you export it as an image with UV Easy Bake for further optimization in Photoshop, GIMP... or for transfer to other software like Unity, Unreal...

Please un-zip the archive and install the .py script.

Use this 20 sec guide - https://youtu.be/wOv4oHO5Kqg