TFT = Thin Film Transistor
PnP = Plug and Play
TFT:
Most of the monitors sold today are TFT. It's used as a general phrase for all LCD monitors, which includes all sorts of different panel types, like TN, IPS, VA.
PnP:
It just means that your system uses generic drivers for your monitor. Usually, these are good enough for most monitors. But if you're not getting the 144Hz working (just as an example), then you should look into monitor-specific drivers.
Unfortunately, using different drivers most probably won't change your colors in any dramatic way. The reason why your blacks and whites are bad is probably because it uses a TN panel. IPS and VA, on the other hand, are better with colours. But finding and using the monitor-specific drivers certainly won't hurt, either.
But indeed, if there is no other monitor listed in the display settings, then the "Generic PnP monitor" is the monitor you're using right now. Don't disable it. If you have the monitor-specific drivers at hand, you can update the drivers via Device Manager, to get it recognized more "accurately". Actually, the device manager might even find the drivers via automatic search (uses Windows update database, I think?).
Jaggy edges is because you have a good vision, big screen and low resolution. Anti-aliasing will help with that somewhat.
