Is there a faster way to change my sound inputs and outputs?
Yes. You can select any connected device via the Volume icon in your menu bar. 

To do this, hold the option key down first before clicking on the volume icon. This will give you a choice of both Output Devices and Input Devices and you can just use your mouse to select the device you want. You can also use this as a quicker way to open your Sound Preferences directly.

NOTE: If you do not have the volume icon in your menu bar, you can enable this in your Sound Preferences.