Multiple Lines of Text Vs Single Line of Text as Text Area

Hello,

I have what I think to be an existential question about Dynamics CRM.

When creating custom fields, I haven't noticed any practical differences between a Multiple Line of Text field and a Single Line of Text field formatted as Text Area. In fact, that makes the whole 'friendly name' Single Line of Text a bit confusing.

Any thoughts on this?

Regards,
P.