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Zip file:
1) A file that has been compressed, often with the .ZIP format originated by PKWARE. 2) A file on a Zip disk, not necessarily compressed. 3) A compressed file with the .EXE extension that is self-extracting (can be unzipped simply by opening it).

Zip drive: An external data storage device that reads Zip disks.

Zip disk: Portable storage disk that can hold 100 or 250 MB of information, manufactured by the Iomega corporation. Used in a Zip drive, Zip disks can archive or back up large amounts of data.