This question is probably easier answered by example:

[1]: An object can have many properties.  For example a person has a name, age, etc.

In this case 'name' would be the property (field name) and "Billy Jones" would be the value

[2]. Think of the field as being the description of the data and the value is the actual data.

So 'Max Length' would describe what data is stored and "5" is the actual data.

[3]. One more way to look at it:

The field/property name is the part the does NOT change.

The  value is the part that can change.