They are essentially the same but completely different.
OneDrive: One Person – sole control over files. With OneDrive you can store files and documents in one place and choose to share it with whoever you need to. You can access files wherever you are and on any device.
SharePoint: Share Documents – files owned by a team that need to be worked on collectively, should be stored on SharePoint. It allows people to work on a document anytime and any place, with more than one person editing at one time.
SharePoint gives you a lot of tools to help manage your documents. You can add ‘metadata’ – pieces of information that describe the document – so that it is easier to find. For example, you can say what department is responsible for it, and when it needs to be reviewed. This feeds into a high quality search experience. You are also able to view previous versions of a file, send documents to colleagues for approval, and lock a file so that nobody can change it while you are working on it. If you want to learn more about how to manage files in each of these apps, click here.