Property is nothing like a variable and Method is like a 
function.

You cannot pass parameters to a property and you can 
directly assign value to it. 

for a Method, set of lines of code and when it is called 
that executes set of lines written in it and generates the 
results. you can pass parameters to the method and you can 
retirve the result from the method. You cannot directly 
assign any value to it but you can pass it by 
Parameterizing it.

Ex: Reporter.Filter - Here Filter is a property
    Reporter.ReportEvent - Here ReoprtEvent is a mothod.

Reporter.Filter = 0 'this enable the results for the test 
results. Here you can directly assig value to it
Reporter.ReportEvent micPass, "Msg1","Msg2". Here we are 
passing three parameters to the methos ReportEvent that 
send the results to Test Results.

Reporter is either a prepdefined Abstract class/interface 
in QTP that has so many Properties and Moethods