FTP (File Transfer Protocol) is a method used to transfer files between your computer and the web server. FTP is usually performed via a FTP Client, which connects to the FTP server and allows you to either upload or download files to/from the server.
An FTP account forms the details used to login to an FTP server and transfer files to and from the server. FTP accounts may have complete access to all the files on the server, or they can be restricted to a specific directory or directories.
FTP accounts can be created within cPanel.
SFTP accounts use a secure protocol in order to transfer your files to and from the server. Only 1 SFTP login exists per cPanel account, and it will be the same username and password you use in order to login to cPanel. Additional SFTP accounts cannot be created.