You can with player variables, if you make 2 for starters
After that you need to make common event to set the durability, by equipping the item, click trigger and change to equipment change, then add a conditional branch for the equip item (this case) small axe
then set another conditional branch in that one for player variable small axe set equal to false, then under they set it to true and set player variable dura to 100
then make a common event for durability take, with 2 separate condition branch's, one using player equip item, "small Axe" the under it set player variable small axe dura to subtract what you need(I used 50 to test it)
then a new condition branch under that one for it the small axe dura is less then or equal to 0, you change player item to remove 1 small axe, then under if taken successfully, you set, small axe set back to false.
with those created all you have to now is the durability take in the common event slot for the resource
only thing I found is if you had more then 1 it can break and you just keep losing them, if you can make them hold 1 can work, other then that it works kinda so you'd have to make a variable for each tool.