What is the difference between `Flush Magento Cache` and `Flush Cache Storage` ?

Here is answer for your question: http://stackoverflow.com/questions/5955365/what-is-the-difference-between-flush-magento-cache-and-flush-cache-storage-i

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Flush Magento Cache - This clears the cache (var/cache) of any items that Magento knows it has created.

Flush Cache Storage - Clears everything in var/cache, regardless of how those files in there were created.

http://magento.stackexchange.com/questions/1/correct-method-of-flushing-caches-managing-the-compiler

Magento Cache:- Remove all items in the default magento cache (var/cache). According to its associated Magento tag.

Flush Cache Storage:- Remove all items from the cache regardless magento tag. If you used another location used by other application will be removed in this process.

Hope this help url:-

http://merch.docs.magento.com/ee_docs/content/system-operations/cache-clear.html