The tip is the last fraction of an inch of the blade, where the edge and the spine converge. It is the thinnest, most fragile part of any knife and the part most commonly broken, usually by prying or by dropping the knife point-first.
The two words get used interchangeably, and in most listings they mean the same thing. Where people distinguish, point describes the blade’s overall profile shape and tip describes the physical extremity itself.
Tip geometry follows from the blade shape. A needle point has an extremely fine, weak tip. A tanto has a thick, heavily supported one. A drop point sits in between.
Almost all broken tips come from lateral force: levering a lid, twisting in a cut, or using the point as a screwdriver. Steel is strong in compression and weak in bending, and the tip has the least material to resist bending.
If you need to pry, use a pry tool. If your work regularly needs a point that can take abuse, buy the thicker tip geometry up front rather than reinforcing a thin one after it snaps.