How Meta Data is different from Custom Fields of POST/PAGE in WordPress

A custom field is a visible form element where users can add information. It’s presentation.

Meta data are data stored in one of the meta tables for posts, users, terms and so on.

The content of a custom field can be stored as meta data, in a separate table, a text file, on a remote site … wherever you want it.

In most cases, custom fields for posts are stored as post meta data.