URL is the abbreviation for "Uniform Resource Locator", which is the page’s address on the web. It is the "name" by which a browser identifies a page to display. In the example "Visit us at example.com.", example.com is the URL for the home page of your website. Users use URLs to locate content on the web.
A path is the unique, last part of the URL for a specific function or piece of content. For example, for a page whose full URL is http://example.com/node/7, the path is node/7.
Here are some examples of paths you might find in your site:
The core software has a feature called "URL Alias" that allows you to provide a more understandable name to the content. So, if you have an "About Us" page with the path node/7, you can set up an alias so that your visitors will see it as http://www.example.com/AboutUs. The core Path module, which supports URL aliasing, provides this functionality.