Final answer:
Launch configurations are instance configuration templates that are immutable and used by Auto Scaling groups, whereas launch templates offer more flexibility, allowing for versioned templates with different sets of configurations and advanced use cases.
Step-by-step explanation:
When dealing with cloud computing services, especially AWS (Amazon Web Services), you may come across the terms launch configurations and launch templates. A launch configuration is an instance configuration template that an Auto Scaling group uses to launch EC2 instances. Launch configurations are immutable, meaning once you create one, you cannot modify it. If you need to make changes, you must create a new launch configuration. Launch templates, on the other hand, offer more flexibility. They allow you to create versioned templates for instances where you can include parameters, such as instance type, key pair, security groups, and block device mappings. Furthermore, you can create multiple versions of a launch template, and each version can have a different set of configurations. This provides better management of the instances and allows for more advanced use cases like instance diversification across your Auto Scaling groups, and integration with other AWS services and features.