AFAIK (in the guitar universe; not necessarily music-wide):
Tremolo = rapid picking of a note
Vibrato = the quick raising and lowering of the pitch of a note
However, things get more confused, even in the guitar world, when companies decide to make amps & effects that are called "tremolo" and they do a vibrato-type effect.
After doing a quick dictionary double-check, it seems that tremolo is produced by a pulsating effect, attained by rapid repetition of a note, whereas vibrato is (again) a tremulous or pulsating effect; however, it is attained by "minute and rapid variations in pitch".
Not trying to be a jerk or anything here, just trying to clear some things up in this discussion.
... and that's all I have to say about that.
[U]ALL[/U] generalizations are [U]WRONG[/U]
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[U]ALL[/U] generalizations are [U]WRONG[/U]
[/sarcasm]