What's the difference between an antivirus and anti-malware?

So you've read somewhere online about malware and viruses, but just what are they and what are the differences between antivirus and anti-malware products?
Two major types of protection for Windows (and PC owners in general) are an antivirus and anti-malware suites. These software solutions offer measures to help keep OS installations secured from attack, be it from malicious users or code on websites. But what are the differences between the two, and do you need one installed or both? We've got some answers that'll help clear things up and get you on the right track.

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