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1) Both terms refer to letterspacing. Kerning refers to the adjustment of specific letter pairs (w/custom values), whereas tracking refers to the application of a single letterspacing value across larger groupings—a word, a line, a paragraph, etc.
2) They do seem to produce the same result. In fact, if you use the Transform command as you describe, dragging right to scale a text box horizontally, you should see the Horizontal Scale values of the text box's contents update accordingly within the Properties panel. However, Horizontal Scale also allows for the stretching or condensing of individual letters or selections within a text box—something the Transform command cannot accomplish.
So does FW only have an option to adjust both the Kerning and Tracking at the same time and not the Kerning and Tracking separately?
Although they use the same slider, Kerning and Tracking are applied differently and adjusted separately. Kerning is applied by placing the cursor between two letters in order to adjust their spacing, while Tracking is applied to the text box or a text selection. These adjustments are stored independently from one another, but their effect is cumulative.
In addition to this, there's also an "Auto kern" option. If this option is checked, any kerning tables stored within the font will be applied to the text. Some fonts may not have any kerning information, in which case this option will produce no effect. But if the font does contain kerning instructions, you'll see the results on the canvas—and it should produce better looking text (ideally, anyway).