I am a little confused about API server address host that is provided by AKS why am i not able to access the cluster application via the api server address or is there any way i can do that?? I know we can always use LoadBalancer or a NodePort service to access any application inside the cluster externally, but can we do that with the API server address as well.
no, with the API server address you can not access your application.
You only can access the Pod or the Service (just use type ClusterIP to not create an Azure LoadBalancer) from inside you cluster. For external access you would need an ingress-controller combined with a Service type LoadBalancer.
You could use the API server to create, read, update & delete Kubernetes resources like services, pods, deployments, secrets etc.