Sssssssssssort-of?
I don't use inventory editing programs but I do have a "storage" world with copies of all the items I ever want/need.
Whenever I start a brand new character I like to at least start with Iron Armor, Iron Tools, Iron Broadsword, a grapplin' hook, magic mirror an' hermes boots. I gots "startup boxes" for both beginning and hardmode in case I ever set up a server, I can make copies for my pals.