What is field label and field name?
Field Label - How the field is displayed in the user interface in areas such as record detail pages, search results, and list views. API Field Name - The name of the field, as used programatically in Apex, or any of the APIs (Rest, SOAP, Bulk, etc).
What is a label field?
A label field stores a string as its value and a string as its text . The value and text of a label field are always the same.
What are name fields?
A name field is an artificial data structure imposed on names to facilitate data processing. Many databases divide names into two fields, typically corresponding to the given name and the family name, though some enter names into a single field, and others may use three or more fields.
What is a label name?
Your label name is the thing that your customers will associate with your business. You need to associate your company's name with what you do so that you can build your brand and distinguish yourself from your competitors.