These names are interchangable. The aromatic waters that we use are made using a special still, through a gentle and extended distillation process. This enables both the oil and water-based volatile components to combine, offering a complete expression of the plant.
Large scale production can produce relatively cheap aromatic waters which are widely available. They are the by-product of essential oil steam distillation (officially called hydrosols). Steam is passed through the plant material after which it is condensed leaving the essential oil floating on top.
Helps to 'Let Go'