Page Layouts –
Page Layout determines the fields that are displayed to users on a record. They allow us to add fields, sections, links, custom buttons, and a few other features.
Many Page Layouts can be created and applied to different groups of users, with the goal of creating a customized experience.
It’s important to note that we can only apply one Page Layout to one group of users per object, per Record Type. For example, if we have one Record Type on the Accounts object, we can only apply one Page Layout per profile.
Record Types –
Record Types let us offer different business processes, picklist values, and Page Layouts to different users.
For example, one of the most common use cases of Record Types would be to create two different sales processes on the Opportunity object. Each with different sales stages and Page Layout.
This means that with Record Types you can now apply multiple Page Layouts per object, per user profile.