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http://www.goloho-polymer.com/what-is-the-difference-between-thermal-conductive-silicone-grease-and-thermal-conductive.html
Thermal conductive silica gel, also known as thermally conductive RTV, can be cured at room temperature and has certain bonding properties. Thermally conductive RTV is a kind of silicone rubber, which belongs to one-component liquid rubber vulcanized at room temperature. Once exposed to air, the silane monomers condense and form a network structure. The system is cross-linked, unable to melt and dissolve, elastic, rubber-like while adhering to objects.

And once cured, it is difficult to separate the bonded objects.

Thermal conductive silicone grease is a kind of thermally conductive medium. It is an ester-like polymer composite synthesized by a special process, based on silicone (polysiloxane polymer) and adding various auxiliary materials. It is a kind of white or gray thermal insulating viscous object, which has a certain degree of viscidity and no obvious granularity. Non-toxic, tasteless, non-corrosive, chemical and physical stability and excellent thermal conductivity, electrical insulation, high-temperature resistance, aging resistance, and waterproof properties. Usually, the thermally conductive silicone grease is insoluble in water, not easy to be oxidized, and has a certain lubricity and electrical insulation.

The similarity between them is that they both have thermal conductivity and insulation, and they are all thermal conductive interface materials.
THE DIFFERENCE BETWEEN THERMALLY CONDUCTIVE SILICA GEL AND THERMAL CONDUCTIVE SILICONE GREASE :
Thermally conductive silica gel (RTV): Viscous (once bonded, difficult to remove, so most of the time used in only one-time bonding occasions), translucent, high-temperature dissolution (viscous liquid), low-temperature solidification (exposure), can not melt and dissolve, elastic.

Thermal conductive silicone grease (heat conductive paste): adsorptive, non-sticky, paste-like semi-liquid, non-volatile, non-curable (low temperature does not thicken, high temperature does not think).

More info about rtv silicone thermal conductivity at GOHOLO.