They are the infimum and the supremum.
The supremum of a set A is the least upper bound and the infimum is the greatest lower bound.
For example, consider the set [0,1]. This has many upper bounds. For example, 2, 10, 10020330 are all upper bounds. But 1 is the smallest such upper bound. Thus 1 is the supremum.
In the previous example, 1 was actually a maximum: that is, the greatest element contained in the set. But a supremum does not need to be contained in the set. For example, ]0,1[ (or (0,1) in other notation) also has 1 as smallest upper bound. Every element smaller than 1 will not be an upper bound anymore. Thus 1 is the supremum of the set.
The same discussion holds for infima.
For example: inf ]0,2[ = 0 or somewhat more complicated inf \{1/n~\vert~n\in \mathbb{N}\}=0 (note that I take 0\in \mathbb{N}).