Vector is another name for dynamic arrays. It is the name used for the dynamic array data structure in C++. If you have experience in Java you may know them with the name ArrayList. (Java also has an old collection class called Vector that is not used nowadays because of problems in how it was designed.)
Vectors are good for random read access and insertion and deletion in the back (takes amortized constant time), but bad for insertions and deletions in the front or any other position (linear time, as items have to be moved). Vectors are usually laid out contiguously in memory, so traversing one is efficient because the CPU memory cache gets used effectively.
Linked lists on the other hand are good for inserting and deleting items in the front or back (constant time), but not particularly good for much else: For example deleting an item at an arbitrary index in the middle of the list takes linear time because you must first find the node. On the other hand, once you have found a particular node you can delete it or insert a new item after it in constant time, something you cannot do with a vector. Linked lists are also very simple to implement, which makes them a popular data structure.