I know this is dumb, but will this work with a regular drill? No clue what an impact drill is, not tool savvy. Bought the wrong drill bits, ugh

It's not for an impact "drill", but rather an Impact Driver, which is a popular tool that instead of having a chuck (like the end of this) to grip normal drill bits at its business end, the impact driver has a 1/4" hex shaped opening, that is spring loaded to "capture" the 1/4 hex shank and lock it into place for use. This means that you can "click" in place drill bits of all types that have a hex attachment end, as well as normal flat head, or Phillips screwdriver ends and other types of bits that are also hex ended, like security screw bits that also have that same type of hex attachment end. Today, 18v or 20v battery impact drivers are arguably a BETTER TOOL to buy than an equivalent battery drill, which is why every battery tool manufacturer sells one or more (Harbor Freight sells about 5 models): they have more TORQUE, they spin FASTER, can be variable SPEED like a drill and of course Hex Bits are QUICK CHANGE by pulling the release "ring" to allow the hex bit/drill to simply be pulled out. Adapters like this one here enable an impact driver to be "converted" in use to a "normal" drill, using plain old drill bits, giving you the best of both worlds... people doing a lot of drilling with a few common size drill bits can save a bit of money with a few of these adapters and pre-fitting them with the drill bit sizes they commonly use, and simply swapping them in fast via the hex mounting. That way if a bit is broken, it's not a more expensive type with a hex mount, but a regular bit, held in place by one of these "chucks".

Does this mean I can throw away my drill?

Not sure anything ever stopped you from doing that, but practically, having 2 bit sizes ready, one in each tool, can be a useful work expediter, e.g. with one drilling, the other countersinking... if you do tons of drilling, using regular bits in a chuck like this will be less costly than breaking hex type bits, so some people buy a number of these chucks to match the number of drill sizes they commonly use in projects and therefore gain the quick switching of hex, but the lower cost of normal bits to replace when broken.

Included Components	This complete power tool conversion kit includes keyed 3/8” drill chuck, a chuck key and a 1/2” Dr. x 1/4” Hex adaptor
Global Trade Identification Number	00837013207542
Manufacturer	Ridgerock Tools Inc.
UPC	837013207542
Part Number	20754A
Item Weight	9.6 ounces
Product Dimensions	8.1 x 3.9 x 1.6 inches
Item model number	20754A
Is Discontinued By Manufacturer	No
Size	1-Pack
Color	Clear
Style	Hex to Chuck Adapter
Finish	Chrome-Plated
Pattern	Keyed
Shape	1/2" Impact to 3/8" Keyed Drill Chuck with 1/4" Hex Converter
Power Source	Battery
Voltage	110 Volts
Item Package Quantity	1
Compatible Fastener Range	Drill bits from 1/16” to 3/8” for various fasteners such as screws, bolts, and nuts
Special Features	heavy-duty
Batteries Included?	No
Batteries Required?	No

NEIKO 20754A 3/8” Drill Chuck Adapter | Chuck Drill for Impact Drivers with 1/4 Inch Quick Change Shank | Drill Converter Includes 1/2-Inch Adapter for Impact Guns | Hex to Chuck Drill Bit Adapter

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