This certificate will protect a single such as mysite.secureurl.com or myonlineshop.co.uk. This is suitable for providing SSL for a servers host name or a single website.
This certificate will protect your entire domain for example *.mydomain.com
This means everything on mydomain.com along with subdomain1.mydomain.com & shop.mydomain.com could be protected using a single certificate. There are no limits on the number of subdomains protected.