ETH is shorthand for Ether. It is the second largest digital currency by market cap apart from Bitcoin. It's common for noobs to mix up Ethereum and ETH. Ethereum is the blockchain while ETH is the network's native token. An even more noob mistake is to confuse it with Ethereum classic, which is the old fork of Ethereum and is not really maintained. ETH is the lifeblood of Ethereum. When you send ETH or use an Ethereum application (dApp), you pay network fees called gas in ETH. The fee incentivizes network miners to process and verify transactions. ETH can be divided up to 18 decimal places so you don't have to buy 1 whole ETH. For e.g. you can buy as little as 0.000000000000000001 ETH if you want.

Faucet comes from a word for water tap sometimes used in the US. In crypto it is a service that dispenses free cryptocurrency. Don't get too excited, it is usually for a test network like Rinkeby or Goerli and the crypto has no value.

A token is a digital asset that appears on its own blockchain. It can be bought, sold and traded like fiat currencies, and can represent either digital or physical assets. Token can also be used to interact with a dApp, which makes life for gamers, shoppers and the whole Web3 world more convenient due to their utility. The term coin is usually used to describe an asset on its own native blockchain e.g. BTC is used and Bitcoin and ETH is used on Ethereum. A token on the other hand usually refers to an asset that can reside on another chain e.g. there are thousands of tokens on the Ethereum chain.