Audacity continues to drop my mic and speaker and reverts back to my computer mic and playback

*How can I save my Mic and Speaker setting in Audacity, so that I don’t have to continue to rebooting?

Assuming you are using a recent version of Audacity you should be able to update input and output choices by re-scanning audio devices and avoid rebooting. You don’t say much about your setup, I know I have had to use the re-scan a lot when I record to my Zoom USB mic and then change to storage mode to get the audio downloaded for editing.