We consider finite-dimensional Markovian open quantum systems, and characterize the extent to which time-independent Hamiltonian control may allow to stabilize a target quantum state or subspace and optimize the resulting convergence speed. For a generic Lindblad master equation, we introduce a dissipation-induced decomposition of the associated Hilbert space, and show how it serves both as a tool to analyze global stability properties for given control resources and as the starting point to synthesize controls that ensure rapid convergence. The resulting design principles are illustrated in realistic Markovian control settings motivated by quantum information processing, including quantum-optical systems and nitrogen-vacancy centers in diamond.