Address Book is a database that contains a list called Contact list. This contact list consists of different attributes. These attributes include First Name, Last Name, Middle Name, Phone number, Company name, Address, Telephone number, Fax Number, etc.
Contact list is a part of Address Book. Address Book itself is a database. So the difference is that Address Book contains contact list in it.
Contact List is the screen name, used by cell phones now a days to store basic information about a person.