Borders are fabric that is cut in strips and sewn around the quilt like a frame. Any where from 3 to 6 inches are good for a border.
Binding is usually 2 1/2 inch strips sewn togather long enough to go around the quilt. You fold the strip in half right side out and sew around the quilt then you trim off the extra batting and backing and fold the binding over and sew it down making mitred corners.
You should watch videos on the web to see how it is done.
Here is a free website with lots of videos.
http://quilterstv.com