I find that among christians the two terms are used interchangeably. One problem is that the for some Hebrew and Greek words there is no corresponding English word. So the translator needs to look at the context, or whatever they rely on, to show a similar meaning in English for a certain thought. Also there many words that have more than one meaning, in which case they have to choose which meaning is applicable. Young earth creationists and old earth creationists are always arguing over the meaning of the Hebrew word "yom" which can mean a 24-hour day, but can also mean a long undefined period of time; thus having a great effect on whether or not Genesis 1-2, took place over 6 days or billions of years.
We keep getting new translations, or versions, as we discover more manuscripts. The newer versions like the NIV and ESV are based on older manuscripts that have been discovered since the writing of translations such as the King James version. Of course, there's good ole capitalism. Publishing companies make money when they publish a new translation that becomes popular. The real truth, as far as I'm concerned, that they all teach the necessary tenets of christianity. After the dead sea scrolls were discovered in 1946, it was found that the scriptures have been preserved remarkably well.
We keep getting new translations, or versions, as we discover more manuscripts. The newer versions like the NIV and ESV are based on older manuscripts that have been discovered since the writing of translations such as the King James version. Of course, there's good ole capitalism. Publishing companies make money when they publish a new translation that becomes popular. The real truth, as far as I'm concerned, that they all teach the necessary tenets of christianity. After the dead sea scrolls were discovered in 1946, it was found that the scriptures have been preserved remarkably well.