Hello Sai,
Solution manager is a set of tools and functions that help you manage your software solution throughout their entire lifecycle right from initial implementation through operation and continuous improvement. It can be used for any application of SAP software be it FICO, MM or any module.
Configuration steps refer to the configuration of business processes. Again it could be for any module depending on the processes identified and freezed in business blueprint.
To start working in solman u need to get the solman system activated which runs in a separate central system to which all SAP systems are connected.
Hope this helps you. let me know if you need anything other information.
Rgds
Manish
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