One of the most common questions on WordPress is the difference between posts and pages. To summarize, the difference is:
Posts vs. Pages
Look at the creation of a page versus a post. Differences are highlighted Between Posts and Pages (Click to enlarge)
The only technical difference between pages and posts is found in Page Attributes.
You can see the different levels when viewing pages in the dashboard. It won’t change the navigation because this has to be set up under Appearance > Menus.
There are a few options that are specifically for posts only.
Categories and Tags
Posts will use categories and tags, but for the majority of themes pages don’t.
The excerpt option lets you create a brief description of your post. Depending on your theme the excerpt may be a prominent part of your site or not. Often you will find on your blog archive page that the full post isn’t listed. It might instead be a photo, the title and the excerpt so readers can quickly scan blog posts without scrolling. Most themes will show the first few lines of the post.
Trackbacks are a clever tool to let someone on another WordPress site know you are talking about them. For example, if you refer to another WordPress site blog post when you put in the URL of the post they would be notified of their mention. At iMarketing Only we don’t recommend trackbacks as they have been associated with spamming.