What is the different between local address and physical address and port address?

Physical address: the MAC address; most commonly this is a type of unique number assigned to the network card. This can usually be considered fixed. This corresponds to layer 2 in the OSI model.

Logical address: an IP number assigned to a computer. These numbers can and will be changed, to have all the computers in a certain subnet have addresses that start (for example) with the same three octets (bytes). Layer 3 in the OSI model.

Port address: TCP or UDP port numbers. Used to distinguish different services or different conversations on a single computer (in other Words, these are not addresses to distinguish different computers, but to distinguish different things within a single computer). Layer 4 in the OSI model.

Note: The above explanation uses the most commonly used protocols; but other protocols (other than IP, TCP or UDP) are also possible.