There isn't really a difference: a bushing is a type of bearing. In general, a bearing facilitates movement between two parts while reducing friction. Simple in design, the typical bearing has two surfaces that roll over each other, enabling two mating components to move friction-lessly.
They are broadly divided into radial bearings, thrust bearings and linear bearings, depending on whether they're working with rotational or linear movements.
A bushing is a specific design of bearing used for certain applications. To summarise: a bushing is a bearing, but a bearing is not always a bushing.
What are the best bushing materials?
The design may be simple; however, the performance and function of a bushing can vary greatly depending on its material.
Bronze bushings
Bronze bushings have exceptional durability and a long service life. They don't corrode and are not easily deformed. However, bronze bushings do need plenty of lubrication during operation, making them higher maintenance than plastic.
Plastic Bushings
Plastic bushings are popular, being a low-cost, low friction and low maintenance option. They are self-lubricating so are good for hard-to-reach parts, and as there's no risk of corrosion, they can be used in wet environments.
We take a look at the pros and cons to plastic as a bearing material.
Advantages of plastic bushings
Plastic bushings have a lot of operational advantages. They are self-lubricating, thus they are maintenance free and have a low coefficient of friction. Plastic lends itself best to simple plain bearings, because it reduces both weight and maintenance, and you won't see any brinelling.
In general, plastic has many advantages over metal. It can be used in wet environments, and is easier to keep hygienic in clean room situations. FDA approved food grade plastics may be specified for certain industrial applications, while polyethylene has been traditionally used for orthopaedic bearings.
(Source: bearings.saint-gobain.com )