Are SOL and wrapped SOL the same?

I'm curious to know, are SOL and wrapped SOL essentially the same? It seems they both represent Solana's native token, but I've heard whispers of differences in their functionality or usage. Could you clarify for me? As a crypto enthusiast, I want to ensure I'm fully understanding the nuances between these two forms of SOL. Is there a distinct advantage to holding one over the other, or are they interchangeable in most cases? Your insight would be greatly appreciated.