粤语 is the formal term while the other is more colloquial. In South East Asia, Cantonese is known as 广府话

Mandarin speakers use both depending on who you are talking too. Both terms mean the same thing, so no matter which term you use, they will understand you.

粤语>普通话。

粤语is more standard, but since many mandarin speakers aren’t really familiar with Cantonese and they think Cantonese is the language comes from Guangdong province, many of them will use the term “广东话” as well.

For mainlanders, I think they are both common to use while 粤语 is more formal.