Package
From FreeBSDwiki
A package is a port that has been pre-compiled for maximum compability and speed of install. As a result you can't change the compile options and they usually don't run as fast as ports.
Sometimes a package is a good alternative to a port when the port or one of its dependencies is broken; or when you just need something installed very quick.
Packages are added with the command pkg_add, removed with pkg_delete and you can identify which packages have been installed on your system via the pkg_info command.