Final answer:
To drill an initial hole greater than 1/4", a drill bit used in conjunction with a power drill is the proper tool. Socket wrenches are unrelated to drilling but useful for working with bolts and nuts.
Step-by-step explanation:
For drilling an initial hole greater than 1/4" through a part, the best option from the provided list would be to use a drill bit. Neither screwdrivers, hammers, nor chisels are designed for drilling holes. Instead, to make the process efficient and precise, a power drill equipped with the appropriate drill bit is ideal. You may also encounter situations where socket wrenches are useful, particularly in fastening and loosening bolts or nuts, but they are not suitable for drilling holes.