In materials science, microstructures and their associated extrinsic properties are critical for engineering advanced structural and functional materials, yet their robust reconstruction and generation remain significant challenges. In this work, we developed a microstructure generation model based on the Stable Diffusion (SD) model, training it on a dataset of 576,000 2D synthetic microstructures containing both phase and grain orientation information. This model was applied to a range of tasks, including microstructure reconstruction, interpolation, inpainting, and generation. Experimental results demonstrate that our image-based approach can analyze and generate complex microstructural features with exceptional statistical and morphological fidelity. Additionally, by integrating the ControlNet fine-tuning model, we achieved the inverse design of microstructures based on specific properties. Compared to conventional methods, our approach offers greater accuracy, efficiency, and versatility, showcasing its generative potential in exploring previously uncharted microstructures and paving the way for data-driven development of advanced materials with tailored properties.