Which alloying element is primarily associated with improving hardenability, corrosion resistance, toughness and wear resistance?

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Chromium is the element that best links all four properties. It enhances hardenability because it supports carbide formation and stabilizes the austenite-martensite transformation, allowing deeper hardening when the steel is quenched. It provides corrosion resistance by forming a stable, protective oxide layer on the surface, which is the hallmark of stainless steels. That same oxide layer also helps the material resist wear by keeping the surface intact longer, and the carbide-forming action of chromium contributes to a tougher, more wear-resistant matrix. While nickel, manganese, and vanadium each contribute to certain aspects—nickel improving toughness and some corrosion resistance, manganese aiding hardenability, and vanadium boosting wear resistance and strength—the combination of strong corrosion protection with enhanced hardenability and wear performance points most directly to chromium.