Both are deception: you want the attacker to touch something that only an unauthorized actor would touch. The difference is what you fake.
Honeypot
A honeypot is a decoy system: a VM, a fake SSH listener, an unused subnet, sometimes a full application. It is useful when you want to watch exploit attempts, scanner behavior, or malware that expects a server. It also costs more to run well: patching, isolation, and making sure production users never land on it.
Honeytoken
A honeytoken is a decoy object: an AWS key, npm token, DNS name, or "confidential" PDF. You leave it in the same places as real secrets. You do not stand up a fake company network. HorasEye is built for this model.
When each wins
- Credential theft and supply chain: honeytokens. See AWS IAM honeytokens and supply-chain secret detection.
- Internet-facing exploit research: honeypots, often alongside network sensors.
- Phishing clones of your login page: a tripwire script on the real site (HorasEye clone detection), which is closer to a honeytoken than a honeypot VM.
Many programs use both. They are complementary, not rivals. HorasEye is a honeytoken and tripwire platform, not a honeypot appliance vendor. Start with honeytokens and cyber tripwires if you want decoy secrets rather than a fake server.