Is BNB and Binance the same?

I'm just curious, are BNB and Binance the same thing? I've heard about both of them but I'm a bit confused about the difference, if there is any. Could you please clarify for me? I understand that Binance is a popular cryptocurrency exchange, but what exactly is BNB? Is it a token or a currency? And how does it relate to Binance? I'd really appreciate it if you could break it down for me in a simple way. Thanks in advance for your help!