"Layer 3 and Layer 4 DDoS attacks are types of volumetric DDoS attacks on a network infrastructure. Layer 3 (network layer) and 4 (transport layer) DDoS attacks rely on extremely high volumes (floods) of data to slow down web server performance, consume bandwidth and eventually degrade access for legitimate users. These attack types typically include ICMP, SYN, and UDP floods."
"A Layer 7 DDoS attack is an attack structured to overload specific elements of an application server infrastructure. Layer 7 attacks are especially complex, stealthy, and difficult to detect because they resemble legitimate website traffic. Even simple Layer 7 attacks – for example those targeting login pages with random user IDs and passwords, or repetitive random searches on dynamic websites – can critically overload CPUs and databases. Also, DDoS attackers can randomize or repeatedly change the signatures of a Layer 7 attack, making it more difficult to detect and mitigate."
This glossary proved to be quite useful: http://www.prolexic.com/knowledge-center-dos-and-ddos-glossa...