noun, na-adjective, noun which may take the genitive case particle 'no'
versatile; multi-talented
Describes a person who has many skills and talents. Often used as a compliment. Can be used as a noun or adjectivally with な or の.
彼は多芸多才な人で、絵も描けるし、ピアノも弾ける。
He is a versatile person; he can draw and play the piano.
多芸多才の彼女は、どんな仕事でもすぐに覚える。
Being multi-talented, she picks up any job quickly.
万能 means 'all-purpose' or 'omnipotent', often used for things or abilities, whereas 多芸多才 is specifically for a person's diverse talents.
A yojijukugo (four-character idiom) combining 多芸 (many arts/skills) and 多才 (many talents). The exact historical origin is uncertain, but it follows a common pattern of doubling similar concepts for emphasis.