Diff btw div and span tags in HTML

I was trying to get the hang of AJAX and was learning a lot of JavaScript and HTML. I was confused btw the <div>and <span> tags in HTML. A quick google came up with these answers:

The main difference between <div> and <span>is that <div>defaults as a block-level element and <span>defaults as an inline element.
Block-level elements create a new formatting context. They are stacked vertically(acts as a paragraph break) in the order they appear in the source code and may contain any number of other block-level elements or inline elements.
Inline elements do not create a new formatting context. They line up horizontally within their block container in the order they appear in the source code, wrapping to new lines within their block container if necessary and can contain only other inline level elements (or inline text boxes).
Both <div> and <span>are generic elements. Both can be used as many times as you like on a page. They hold no defaults settings besides their value for display (block on <div>, inline on <span>)