Yes, pinning to the Taskbar is an option I use for stuff I use most frequently. Other stuff gets pinned to the Start menu or placed on the Desktop...
Note that besides re-naming, shortcut icons can also be changed... (right click>Properties>Change icon) There are hundreds to choose from. You need to change a shortcut icon before pinning it to the Task bar or the Start menu because those places don't give you a Properties option.
Some programs come with their own specialized icon with no other choices. In this case, follow the picture below:
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