Besides the above explanations, this slightly complicated example will show the difference clearer. For 休
偏旁 = 人 and 木
部首 = 人 and 木
However, in this character, the radical (root word) is 人 and not 木 because this character appears under the heading of a Chinese dictionary. In other words, the simpliest explanation, a radical is defined where the character appears in the dictionary entry. For the nitty gritty details, it is so defined because man is superior than a tree according to Chinese philosophy. The top three rankings are heaven, earth and man. Another example is 槐. Here the radical is 木 and not 鬼 because the ghost radical is merely a phonetic component and the 木 is the semantic component because the character means "locust tree" and has nothing to do with the supernatural. Hope this helps.