Transfer all data from old to new laptop?

I will soon get a new laptop and want to transfer the complete data (files, photos, software…) from my old to a new notebook. It is Windows 10.

I've seen several options on the Internet, but I don't know which method to use.

Files and photos → external hard drive (you should always have a backup anyway).

Software you need the appropriate installation files / keys. Simply copying programs from a to b is not possible here.

Make a backup on an external hard drive and load everything onto the new laptop.