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Just as the name implies one blockchain is available to anyone anywhere (public) and the other is restricted to a single organization (private). Blockchains originated as and are most available through public access, and though private blockchains are more scarce or are less known about, they do exist.
With public blockchains anyone can have access to view the ledgers and consensus for all transactions. They provide a "fair play" mentality. Public blockchains are more secure than private, though they are more exposed to attackers and illegal activities.
Private blockchains are not available to the public and only authoritative persons can view the ledgers and consensus. They are less decentralized than public and contain regulations that public do not require.
Depending on one's needs on whether they should go with private or public blockchain, but they both have benefits and setbacks to keep in mind.
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