The terms can overlap, but the choice is easier when you think about how the bag will be used.
Roll-top dry bags are simple, light and easy to strap under the bungee on a paddleboard. They are a good choice for keys, a spare layer, food and basic essentials.
Waterproof backpacks are better when you need to walk to the water, carry kit from the car or keep your hands free. They are often the most practical choice for touring paddlers, kayakers and anyone launching away from the car park.
Waterproof kit bags are more about capacity and organisation. They suit wet clothing, towels, spare kit and travel.
Bucket-style waterproof storage is brilliant for wet, sandy or messy gear after a session. It is less about carrying on the water and more about making the before-and-after part of watersports easier.