Drax

The Hamdrax is an all-in-one tool made using every chainsaw, drill, and several souls. It can break almost all bricks, walls, and furnitures in one hit.

Though the most powerful tool in the game as of 1.1, it may be a bother if one breaks anything unexpectedly since the Hamdrax breaks everything, including Demon Altars. (Like the Pwnhammer, this only works after Wall of Flesh is killed in a world.) Getting this tool is very tedious since you will have to kill Skeletron Prime, The Twins and The Destroyer at least once to obtain the required souls.

Trivia

 * Hamdrax is a portmanteau of words hammer, drill and axe, because it can perform the actions of all three.
 * Although the Pwnhammer is not included in the crafting ingredients (or any hammer for that matter), the Hamdrax can still destroy Demon Altars.