I've been reading the codex for WordPress closely and am confused about the vague definitions between what a Taxonomy is and what a Category is. For that matter, term is also a word that is used in the description of Taxonomies, but seems used in a manner that hints that it isn't solely limited to a Taxonomy.
Both are described as a way to classify and group together posts. I do understand that Taxonomies are a more general form of categories, but how exactly do they relate to each other?
Is there a subtle difference I'm just not picking up on?