Sales / Project CRM Tracking Software

Good day,

Wondering what other companies use for keeping track of communication on active projects as well as potential projects. We previously were using email Public Folders and now have converted to Microsoft Teams - but setting up a new team for every single project seems cumbersome. Wondering if others use a specific CRM type tracking tool to keep track of the various interactions with their clients, and more specifically, specific details about each project?  We try to capture everything via email but it doesn't seem like the right long-term solution to use MS Teams.  Bonus if it doesn't cost an arm and a leg.  Thanks in advance.