Efficacy - as the others wrote, but with the following. It is the best effect that you can see from the intervention under controlled and ideal conditions. So, for a drug, we pick everybody within a certain age range, with a very tight definition of the disease, closely monitor the patients, make sure they are taking the drug properly and see if the drug works. For example, you might get 20% improvement in the disease under ideal conditions.
Effectiveness - in real life conditions, we never have ideal conditions. There are always things which can go wrong e.g. patient forgets to take the medicine, cannot tolerate side effects, hospital can't afford to give drug etc. So although, the drug has a high efficacy, it's effectiveness (the desired effect it has during real life conditions), is lower than the 20% efficacy.