What is the difference between a LP and an EP?
EP refers to Extended play. It is something between a single and a full CD (or LP); a little too short to be a full CD and a little too long to be a single.It usually has 3-5 tracks .
LP refers Long Play; it is a vinyl record. Per Wikipedia:
The LP (Long Play), or 33 1⁄3 rpm microgroove vinyl record, is a format for phonograph (gramophone) records, an analog sound storage medium. Introduced by Columbia Records in 1948, it was soon adopted as a new standard by the entire record industry. Apart from relatively minor refinements and the important later addition of stereophonic sound capability, it has remained the standard format for vinyl albums.
I was always bothered by this because "Extended" sounds like it should be longer than "Long". However, your answer is accurate.