In Microsoft terms, an update contains one or more software fixes or changes to the operating system. Updates can add extra functionality to the operating system to support new hardware or to resolve problems discovered with the operating system.
A hot fix or patch is a software fix for a single problem.
Microsoft released updates on the second Tuesday of the month, and thus are known as “patch Tuesdays.”
A service pack is a bundle of patches or updates that are released periodically. Microsoft has moved away from releasing service packs and instead moved toward silently and gradually deploying them out via a Windows Update.