Can we use an excel template to create multiple fields for multiple objects?

Yes, BOFC has a option where user can import an Predefined Excel template to create any number of fields in Salesforce for multiple objects.
The Sample Template is available on the BOFC Field Creation page.

Experience it for yourself

Bulk Object Field Creator (BOFC) is a must-have tool, designed specifically for Administrators, that simplifies many of the tedious tasks of managing a complex Salesforce environment.

This tool is available on Appexchange and Click on below button to install the
latest version of BOFC

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