What is the difference between Local IDs and Global IDs in Salesforce Lightning?

Local IDs
A local ID is an ID that is only scoped to the component. A local ID is often unique but it’s not required to be unique.
Create a local ID by using the aura:id attribute. For example:
Find the button component by calling cmp.find(“button1”) in your client-side controller, where cmp is a reference to the component containing the button.

Global IDs
Every component has a unique globalId, which is the generated runtime-unique ID of the component instance. A global ID (1) is not guaranteed to be the same beyond the lifetime of a component, so it should never be relied on. A global ID can be useful to differentiate between multiple instances of a component or for debugging purpose