News Feed
This is what your greeted with as soon as you login to Facebook. Here to get to see what your friends have been up to. Who has been playing what game and also their recent achievements. To get to see photos and videos shared with you by your friends and all the rest of it.
The purpose of the wall is for sharing in a social sense. You and your friends get to share stuff and comment each other's posts. But both of you guys also have friends who know either one of you both not both of you. This is called "Friends of Friends" by Facebook. Since there are two people who are sharing and have a separate list of friends. Everyone gets to see posts and updates made by you. The News Feed is a very public place.
let's say a friend of yours has got a new car and posted pics of the same. This appears on your news feed and you now know that your friend has a new car. You reply to the feed and drool over the same if it is a nice one of course. This is seen by both off you and all your friends. Which means friends of both parties get to see it too.
On the News Feed you can also share links. If you are surfing the web and you come across something you really like and want to share with your Facebook friends. More often than not that site would have a Facebook Share button that allows you to connect to Facebook and share the same with your friends and this gets posted to your News Feed.
It's a very public and community thing
Wall
The wall on the other hand is a place where all your personal stuff is placed. If a friend wants to know specifically what you've been up to on Facebook, they would need to click on your name and they land on your wall. Your Wall is your personal space on Facebook. Here people can find more info about you. Photos and videos you might have uploaded. If you play Facebook games some specials might get posted to your wall. Since many collectible and rare items from many social games like PetVille and FarmVille post to your wall. Where your friends can come and collect bonuses and rewards.
The wall therefore has a more personal feel to it and you get to control who sees what by adjusting your privacy settings and tunning it to your likes and dislikes.
Your wall would usually have your most recent activities like who you fiends with now. Likes to pages and groups you might like. Mostly when you click the "Like" button anywhere on Facebook or outside sites. This activity also shows up on your wall. Yes it comes to the News Feed but quickly vanishes. But it stays permanently on your wall.
So, your wall shares more personal stuff about you on a more permanent basis while the news feed is something fast and flowing.
If you would like more info on how to adjust your news feed and wall settings, please search our site for the same.