What is the difference between List and Publication List in Salesforce Marketing cloud??
You can send to Lists directly. Publication Lists are only associated with sends and can't be sent to directly. Publication Lists are normally used for associating a Publication (campaign, segment, etc.) with a send to a Data Extension (DE).
SFMC maintains subscriber status for both. So if you send to a DE, with an associated Publication List and the subscriber unsubscribes they'd only be unsubscribed from the Publication List (assuming they don't check the global opt-out checkbox).
Both show on the stock Preference/Subscription Center pages if they're marked as public.
"All Subscribers" is the master List.
Both are considered Lists when you're dealing with the API or the System Data Views.