Step 1: Rewrite the line in standard form.
Given line is
\[
\frac{x}{a}+\frac{y}{b}=1
\]
Multiplying throughout by \(ab\),
\[
bx+ay-ab=0
\]
This is the standard form of the line.
Step 2: Use the tangent condition for the circle.
The circle is
\[
x^2+y^2=1
\]
whose center is \((0,0)\) and radius is \(1\).
For the line
\[
bx+ay-ab=0
\]
to be tangent to the circle, the perpendicular distance from the center to the line must equal the radius.
Thus,
\[
\frac{|ab|}{\sqrt{a^2+b^2}}=1
\]
Squaring both sides,
\[
\frac{a^2b^2}{a^2+b^2}=1
\]
\[
a^2b^2=a^2+b^2
\]
Step 3: Divide by \(a^2b^2\).
Since \(a,b\neq0\), divide both sides by \(a^2b^2\):
\[
1=\frac1{b^2}+\frac1{a^2}
\]
Rearranging,
\[
\frac1{a^2}+\frac1{b^2}=1
\]
Step 4: Interpret geometrically.
The point
\[
\left(\frac1a,\frac1b\right)
\]
satisfies
\[
x^2+y^2=1
\]
Hence, the point lies on the circle.
Step 5: Final conclusion.
Therefore,
\[
\boxed{\left(\frac1a,\frac1b\right)\text{ lies on the circle}}
\]