High Severity And Low Priority

This means that the bug will have severe affects if not 
resolved but since it is not blocking our testing or some 
other functionality so there is no urgency to get this 
resolved.

High Priority And Low Seveirty

I hope you can answer this now.

But these are like rare kind of sceanrios in real time 
because any bug which is severe must be critical and should 
have high or medium or Very High priority and not Low.

Hope it makes sense!!

Thanks,
Jasbir Ahlawat
Accenture

Example of high severity and low priority bug:
If you fill a form, and on clicking on the Submit button, 
the user information is not getting stored in the database 
and is lost. We will give it a high severity. But since the 
delivery for this module is two weeks from now, the bug can 
be fixed later on, so we give it a low priority.

Example of low severity and high priority bug:
There is a spelling mistake in the text, is a low severity 
bug since it is not breaking any functionality. But this 
module needs to be complted tomorrow, so we assign it a 
high priority.