Hi Mahendran,
I am Dave, I will help you with this.
A Package usually contains the installer for software.
An Application refers to the main software that contains the executable and all the necessary files, like DLL's, config file and other ancillary files needed for the software.
Executable refers to the main exe file for a piece of software.
Binary is a machine code representation of the Exe or may be a data file stored in binary format, rather than plain text.