Both are major traditions within Jain Dharma.

Shwetambar

• Monks wear white clothes.
• Scriptures are preserved in a large canonical tradition.
• Usually allow women to attain moksha in the present age.

Digambar

• Monks follow complete nudity as a sign of total renunciation.
• They preserve a different scriptural tradition.
• Generally hold that a female body is not the final path for liberation in the present form.

In short:

• Shwetambar = white-clad ascetics
• Digambar = sky-clad ascetics

Both follow the core Jain values of Ahimsa, Satya, Asteya, Brahmacharya, and Aparigraha. Both are Jain, and both seek liberation through right faith, right knowledge, and right conduct.