Bellows and extension tubes serve the same purpose, that is to add extension between the lens and the camera.
The obvious difference:
Bellows are more expensive, extension tubes are cheaper. B&H has a 900$ novoflex bellows for canon, where as a set of 3 extension tubes will cost you about 180$ (or 80-120$ for canon-brand extension tubes).
http://www.bhphotovideo.com/c/product/197081-REG/Novoflex_BALCAN_AF_Auto_Bellows_for_Canon.html
http://www.bhphotovideo.com/c/search?Ntt=canon+extension+tube&N=0&InitialSearch=yes
I'll refer to those products further down.
The actual (technical) differences:
For these, remember that your magnification is (roughly) m = amount of extension/focal length. Therefore 50mm of extension on a 50mm lens gives you 1:1 and 60mm of extension on a 180 mm lens gives you 1:3.
1) Minimum extension: Bellows are bulky and often the minimum extension you get is a few centimeters. The bellows unit above has a minimum extension of 1.97" = 50mm. This is typical. If you use this bellows with a 50mm lens, you'll always get more than 1:1. The smallest extension tubes are usually 12mm thick.
2) Maximum extension: Bellows can get you a lot of extension easily. The bellows above will get you 5.12"=130mm maximum extension. The usual thick extension tubes are about 36mm thick. A common set is 12, 20 and 36mm tubes. If you stack those together, you get 68mm of extension. If you want 1:1 with a 100mm lens, you'd need a bellows or more extension tubes. There are good reasons to try and get 1:1 with a long focal length rather than with a short focal length. Your working distance increases (for the same magnification) with longer focal length. That means you can be further away from what you're shooting. If you're trying to get live, moving insects outdoors, it's easier if you're further away.
3) Bellows are heavier and more fragile than extension tubes and, hence, more of a pain to carry with you. My extension tubes are pretty much always in my bag and I just throw them around the bag when they're in the way. I wouldn't do that with a bellows unit.
Given all that, I would suggest you start by getting a (cheap) set of extension tubes and play around. Unless you know exactly what you're always trying to photograph, I think you get more use out of those than a bellows.
Alternatively, there are other methods for macro you might want to look at: reversing lenses (on their own or on top of another lens), diopter lenses,...
I always suggest (and now I definitely am a broken record) the book "Closeups in Nature" by John Shaw. You can get a copy for less than 25$US and that's probably the best investment I could suggest to you.
Have fun!