Where is the configuration actually saved in the system? I am new to Drupal 8. I installed the Drupal webform module. I am able to export the configuration file but unable to figure out where the configuration is actually is saved in the Drupal system.
Nowhere, most of configuration is located in database including webform.

With config module, you may find webform configuration in admin (yml) : /admin/config/development/configuration/single/export

First, select webform in configuration type, then the configuration you need to export.

NB : have a look at sources https://github.com/drupalprojects/webform/blob/8.x-5.x/src/Entity/Webform.php , most of drupal contributions are built the same way, webform extends ConfigEntityBase and these are typically stored in database (config table as a blob)