Initial conditions and boundary conditions serve different roles in solving differential equations. Initial conditions apply to problems where time is a factor, specifying values of the function and its derivatives at a specific time, while boundary conditions are concerned with values at the edges of the domain, independent of time. Mathematically, initial value problems guarantee a unique solution under certain conditions, whereas boundary value problems can have multiple or no solutions depending on the specified conditions. The distinction is critical in fields like physics and mathematics, particularly in the context of partial differential equations. Understanding these differences is essential for correctly applying mathematical concepts to real-world problems.