* ὄργανον (organon): This is the most common and broadly applicable word. It can refer to a musical instrument, a tool, or even an organ of the body. This is probably the closest single equivalent.
* More specific words would be needed for particular types of instruments. For example, a musical instrument might be κίθαρις (kitharis) (lyre), αὐλός (aulos) (aulos - a type of double pipe), etc. For tools, you'd need a word specific to the tool's function.