Whats the difference between record of the year and album of the year?

A record of the year is one single song composed that gets recognition as "record of the year". and album of the year is the whole set of songs on the album getting recognition. so a record of the year is one song getting an award and the album is all the songs getting the award.

Record of the year is awarded for a single or for one track from an album. This goes to the performing artist, the producer, recording engineer and/or mixer for that song. Album of the year is presented to "honor artist achievement, technical proficiency and overall excellence in the recording industry, without regard to album sales or chart position."