Java is a programming language developed at Sun Microsystems. Of the popular programming languages, it is probably most similar to C++.
JavaScript is an HTML scripting language that was loosely based on Java.
Java's most common usage is as an "applet" in a web page. Applets are "small" programs embedded in web pages and executed on the browser's computer (the client).
Java is also now being used in so-called "Java Server Pages" or JSP's. These are web pages created by Java programs running on the server-side of the connection. You might notice JSP web pages by their ".jsp" suffix.
JavaScript is commonly used to provide interactivity or some other minor bell/whistle to your web page.
To find out more:
BTW, Microsoft is reportedly removing Java as a standard plug-in in its XP version of Internet Explorer.
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