Report Link vs Embedded Table

A Report Link is a field type where you configure the left and right panels on the field Properties and it creates a link to a set of records from another table.

Then typically, that field will be put on a form and have the Form Properties set to display those records on the form as an embedded table.  That Embedded table can optionally be pointed to a particular report to add additions filters if desired (say an embedded report of "Active" contacts on a client record), and the report can control the columns and the sort and in fact can be any report type including summary reports and charts.  But typically when someone says an embedded table they mean a Report Link field put on the form and the form is set to display those records in a regular vanilla table report which just lists the records.