BB cream (stands for Beauty Balm)
They tend to be ‘all-in-one’ aka serum, moisturizer, primers, SPF, color and coverage at the same time. It’s a multi purpose product but you’ll need to find the right one for your skin type. It offers a light coverage (not as strong as foundation) but it’s basically the first upgrade since tinted moisturizers. It’s a great option for people that don’t want heavy coverage and want a fast routine. Just don’t forget to add on SPF cause the general amount in the BB cream may not be enough!
CC cream (stands for color correcting cream)
This is the ‘new’ BB cream. They are also a multi purpose product except they offer 1) color correction to disguise imperfections (i.e. acne, pigmentation, scars) 2) more coverage (less sheer) than BB creams.
TL;DR - BB and CC creams are essentially similar. CC creams are newer and so people say the formula is lighter with better coverage. But different brands have different textures, colors, finishes (dewy or matte) so it’s best if you went to try it!