Hole
Key O. Select the body, click a face, set the diameter and the depth, press Enter.

Why not a circular cut
A hole keeps a reference to the face, not coordinates. So it travels with the face: change the part higher up the history and the hole stays where it was meant to be, not where the coordinates happened to land.
A circular cut has no such link and can drift after a change.
Layout by points
If the sketch on the face has points, holes can be placed at them — then their position is parametric and is edited by the sketch dimensions.
Depth
A blind hole is given by a number, a through hole by a depth deliberately larger than the wall or by the matching mode. For a thread use the Thread command on the finished hole.
See also
- Thread — how to cut one in a hole.
- Linear array — a row of holes as one feature.