We don't see what it is capable of in the book. Because the bearers either were unaware of what it could do (Gollum and Bilbo) or had been warned not to use it (Frodo - though he did use it a bit, and Sam, resists its suggestions), or knew better (Faramir, Galadriel, Gandalf - in the book Faramir is not tempted to take it). The only one who really desired it in the book is Boromir. As a warrior, he saw it as a tool he could use to augment his own warrior capabilities which presumably it would have done. So that's the nearest to your question. We are told that it would have been of great value in the fight against Sauron - but how exactly it would have done this is not explained. Because of course Boromir did not succeed in getting hold of it.

It's main powers were that it could control the other rings, except the rings the elves had  - and that it could augment the powers of its wearer. So for instance Gandalf bearing it would have been a much more powerful wizard, able to achieve almost anything. But his wizardry would have turned to evil.

It makes them invisible because it moves them into "another world" they are not invisible to themselves, and to those who can see such as Tom Bombadil, they are just as visible when they wear the ring. Or even more visible when wearing it for the black riders.

It seems to have various other powers shown in action rather than described. For more on this, see One Ring

So - I think pretty powerful really! But the story is about finding a way to get rid of something powerful so nobody can use it, rather than about mastering its power, which he says is impossible. And that it would eventually master anyone who used it, and also, eventually turn them into a wraith, an invisible creature, a tenth black rider under the control of Sauron - unless they were extremely powerful originally such as Galadriel or Gandalf in which case the risk is that they win and becomem a second Sauron themselves.

That is, except for Tom Bombadil, for whom its just a bauble so he had no interest in it, could easily have lost it if left with him. It had no power over him, and he had no power over it or interest in it except as a bauble.

Though when Tolkien wrote the Hobbit, he didn't have all this back history and background of the ring . Even when he started on the first few chapters of the LOR, it was still just a simple invisibility ring with not much else to it. The rest of this was developed later. He then went back to the Hobbit, and rewrote the riddle scene with Gollum and his escape from the caves to make it consistent with the later story.