Tom Bombadil vs. The Ring

Sauron was created from Morgoth and his fetid corruption. While Morgoth had more orcs and the like, Sauron used every available asset to him, including the Istari. He also created the Olag-Hai and had Sauraman Create the Urak-Hai. If I had to choose which one brought the most destruction with his Creatures, I would still choose Morgoth. He created the first drakes and the mutated Ents called trolls. Glauring was one of the most impressive works of Morgoth, and while Turin did slay him, Glaurung took out Hurin's line. You also have to account for the elves' valor in the first and second ages compared to their complacency in the third age. Morgoth was stronger than Sauron. Sauron Without the ring was almost useless and could be defeated. Morgoth had no hinderance.