Tensors and matrices are related but distinct mathematical concepts, with tensors having specific transformation properties that matrices do not possess. While rank 2 tensors can be represented by square matrices, not all tensors are rank 2, and many cannot be represented as matrices at all. Matrices are essentially rectangular arrays of numbers that do not transform under coordinate changes, while tensors must adapt to such transformations. The discussion highlights that tensors are associated with linear vector spaces and their duals, making them more structurally complex than matrices. For practical applications, especially in fields like physics, understanding these differences is crucial for proper representation and manipulation of mathematical entities.