Is it possible to use a node material layout as a texture?

I am aiming to be able to use a node-based material as a texture, say, for a displacement modifier as an Eevee render engine alternative to the Cycles render engine’s option for “Displacement and Bump”. I would also like to know; what are the differences between Blender’s Materials and Textures? Any and all support is appreciated. Thank you in advance.

A texture is just an image somewhere in the memory. A material is a shader. A shader is a programm that gets called and executed everytime the renderer needs the color of a pixel on an objcet.
So those things are completely different. If your material isn’t view angle dependent or changing ober time you can try baking it on a Plane and then use the baked image as a texture.

Very helpful, but just wondering, would there be any other way to use a shader material as the texture? Is there a way to bake the material’s bump onto the mesh, or is a displacement modifier the only way to go?

To use some node setup for displacement in eevee the only way I am aware of is by baking a displacement map and using it in a displacement modifier.