In the Federal system, they are synonymous for all intents and purposes. All federal criminal charges must be indicted by a grand jury (though it is possible for the prosecutor to refuse to pursue a charge that the grand jury has issued a bill of indictment on).
In many states, prosecutors may charge defendants with misdemeanors by simply filing an information while felonies must be presented to a grand jury for indictment.
It goes beyond just misdemeanors in some states. In Florida we can file an information on any non-capital case.