Snapshot
A point-in-time image of a system or volume, allowing a quick return to that exact state.
Snapshots are fast to take and fast to revert, which makes them ideal before a patch or an upgrade. They are also space-efficient because they record changes rather than full copies.
They depend on the underlying storage, so they do not protect against that storage failing or being encrypted. They complement backups rather than replacing them.
Where this comes up
Snapshot sits inside our backup and disaster recovery work. If you are trying to work out what this means for your own environment rather than in the abstract, that is the page worth reading next, and a short call will get you a straight answer faster than either.