What are the main differences between oil-based and water-based products?

Oil-based products are made with oils or solvents as the base, while water-based products use water as the main ingredient. Oil-based products tend to be more durable and provide a smoother finish, but they take longer to dry and have a stronger odor. Water-based products dry faster, have less odor, and are easier to clean up, but may not be as durable as oil-based products.