The 8051 microcontroller has an 8-bit architecture and uses assembler directives like DB, ORG, and EQU to define data and constants. It allows individual bits of I/O ports to be accessed using instructions like SETB, CLR, JNB, and JB, enabling control of devices with bit-level granularity. Read-modify-write instructions also allow reading, modifying, and writing port values in a single operation.