I'm trying to get a better understanding of the difference. I've found a lot of explanations online, but they tend towards the abstract differences rather than the practical implications.
Most of my programming experiences has been with CPython (dynamic, interpreted), and Java (static, compiled). However, I understand that there are other kinds of interpreted and compiled languages. Aside from the fact that executable files can be distributed from programs written in compiled languages, are there any advantages/disadvantages to each type? Oftentimes, I hear people arguing that interpreted languages can be used interactively, but I believe that compiled languages can have interactive implementations as well, correct?
A compiler and an interpreter do the same job: translating a programming language to another pgoramming language, usually closer to the hardware, often direct executable machine code.
Traditionally, "compiled" means that this translation happens all in one go, is done by a developer, and the resulting executable is distributed to users. Pure example: C++.
Compilation usually takes pretty long and tries to do lots of expensive optmization so that the resulting executable runs faster. End users don't have the tools and knowledge to compile stuff themselves, and the executable often has to run on a variety of hardware, so you can't do many hardware-specific optimizations. During development, the separate compilation step means a longer feedback cycle.
Traditionally, "interpreted" means that the translation happens "on the fly", when the user wants to run the program. Pure example: vanilla PHP. A naive interpreter has to parse and translate every piece of code every time it runs, which makes it very slow. It can't do complex, costly optimizations because they'd take longer than the time saved in execution. But it can fully use the capabilities of the hardware it runs on. The lack of a separrate compilation step reduces feedback time during development.
But nowadays "compiled vs. interpreted" is not a black-or-white issue, there are shades in between. Naive, simple interpreters are pretty much extinct. Many languages use a two-step process where the high-level code is translated to a platform-independant bytecode (which is much faster to interpret). Then you have "just in time compilers" which compile code at most once per program run, sometimes cache results, and even intelligently decide to interpret code that's run rarely, and do powerful optimizations for code that runs a lot. During development, debuggers are capable of switching code inside a running program even for traditionally compiled languages.
Compiled vs. Interpreted Languages