Administrator accounts provide the most control over a PC, and should be used sparingly. You probably created this type of account when you first started using your PC.
Standard accounts are for everyday use. If you're setting up accounts for other people on your PC, it's a good idea to give them standard accounts.
The standard account is an unelevated restricted users account. It can help protect your computer by preventing users from making changes that affect everyone who uses the computer, such as deleting files that are required for the computer to work. It is recommend to create a standard account for each user instead of an administrator account for the user. When you are logged on to Windows with a standard account, you can do almost anything that you can do with an administrator account, but if a standard user wanted to do something that requires elevated rights that affects other users of the computer, such as installing software or changing security settings, Windows will give the standard user a UAC prompt to enter the password of an administrator account for approval and confirmation before allowing the action.
The first time you set up Windows, you created a user account. This account is automatically an administrator account, so that you can finish setting up your PC and install any programs that you would like to use. When you add other accounts to your PC, however, they'll usually be standard accounts. Standard accounts are best for everyday use.