What is the difference between Collections and Variables in Power Apps?

Question

Accepted Answer

Feature
            Variable
            Collection
        
        
            Stores Single Value
            Yes
            No
        
        
            Stores Multiple Records
            No
            Yes
        
        
            Temporary Data Storage
            Yes
            Yes
        
    

    Variable Example:

    
Set(UserName, User().FullName)
    

    Collection Example:

    
ClearCollect(MyAccounts, Accounts)

Feature	Variable	Collection
Stores Single Value	Yes	No
Stores Multiple Records	No	Yes
Temporary Data Storage	Yes	Yes

What is the difference between Collections and Variables in Power Apps?

Answer with Explanation