A Warning is issued by the National Weather Service to indicate that a particular weather hazard is either imminent or has been reported. A warning indicates the need to take action to protect life and property. The type of hazard is reflected in the type of warning (e.g., tornado warning, blizzard warning).
A Watch is issued by the National Weather Service to indicate that a particular hazard is possible, i.e., that conditions are more favorable than usual for its occurrence. A watch is a recommendation for planning, preparation, and increased awareness (i.e., to be alert for changing weather, listen for further information, and think about what to do if the danger materializes).