The 8051 microcontroller has 40 pins that provide input/output capabilities. It has four 8-bit I/O ports (P0, P1, P2, P3) that allow connection to external devices. Unlike microprocessors, the 8051 has onboard I/O ports so no additional chips are needed. The I/O ports use circuits that allow pins to be individually configured as inputs or outputs using latches controlled by the microcontroller.