Can someone please explain me the exact difference between an application server and a web server. I've researched a lot but didn't quite get a satisfactory answer. Thanks in advance!
Well, according to the (description of the) tags you had associated to your question;
An application server is a software framework dedicated to the efficient execution of procedures (programs, routines, scripts) for supporting the construction of applications. Normally the term refers to Java application servers. When this is the case, the application server behaves like an extended virtual machine for the running applications, handling transparently connections to the database at one side, and connections to the web client at the other.
A web server is a software application that services requests from clients using the Hypertext Transfer Protocol.