BTW, never write u: for ü. If your keyboard doesn't have umlauts, the official rule is ä = ae, ö = oe, ü = ue, and ß = ss.
In principle, "den" und "ihn" can both be used in both sentences. However, the way they are used in the example sentences is the natural way. "ihn" is the (neutral) pronoun (= it). "den" (slightly lengthened and emphasized when speaking) stresses that it's about this particular one (= this one, that one). It's short for "(genau) den Schlüssel/diesen Schlüssel".
It can work in a similar way in English:
1) The key is gone.
2) Could you please look for it?
3) But I already looked for that key.