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What are the advantages and disadvantages between the two
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A text box is a very simple text box ... like this one I'm typing in now.
A rich textbox however, can have a multitude of Fonts, sizes, colors, alignments, styles, and even OLE objects embeded in it. It can act like a listview and have icons which open the icon using the default assosiated program, they can have embedded images and exel spreadsheets and anything else under the sun.
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Another real big advantage of the RTB is its ability to display more than the 64k of text that a plain-vanilla textbox displays (in the real world, probably 32k).