Is it possible to edit the path and view the folder path in the Finder? I'm not sure what it is called on the Mac, but when I open my Downloads folder (or any other folder), I'm referring to this file explorer window that shows me my file structure.

I know there are options, like I can view my files and folders in panes, or in a detail view, etc.

But what I hate is that I can't modify the current path location easily, nor can I cut and paste the current folder path.

This really drives me nuts, I wish it could be more like Windows's file explorer as it is so easy and intuitive to use.

Is there a hidden option for these 2 issues that I am missing?
Finder does not have a bar like in the explorer on Windows, but there are some things you can do to achieve similar results.

To have the current path always visible, open a window and go to View > Show Path Bar. This will add a bar to the bottom of your windows which shows the path of the selected file, the same as if you were in search view. You can also Command-Click on the icon at the top of the window to view the path as a menu. As noted by @lhf, copying a file will also copy its path. You can also drag a file from the window or path bar to most places where a file or path is expected, such as open or save dialogs.

To go to a folder based on its path, press Command+Shift+G. This will pop up a box where you can type in a path, and either the current or a new window will open at that path. This also works in open and save dialogs.