I am trying to understand about Chrome (browser) development. I am very new to this and trying to figure out where to start in order to develop for Chrome Browser.
Just
Just to add to the above answer which was missing difference between Plugin and Extension is:
Plugin is a third-party library that is plugged-in to the browser and allows for being embedded on a webpage. It affects only the web page that is using the plugin.
Extensions change the browser UI, add menus or change overall look of the browser and can process each page that gets loaded.
So to sum it up - plugins add functionality and extra features to a particular webpage while extensions add functionality and features to the whole browser and change the behavior of the browser.