There are two main internet protocols: TCP and UDP. TCP is connection-oriented and reliable, ensuring packets are delivered in order. It is slower than UDP but suited for applications like web browsing where reliability is important. UDP is connectionless and faster but packets may arrive out of order or not at all, making it well-suited for real-time applications like games and streaming media. Key differences between the two protocols include their handling of connections, ordering of packets, speed, and reliability of delivery.