A Physical address is a 48-bit flat address burned into the ROM of the NIC card which is a Layer1 device of the OSI model. This iis divided into 24-bit vendor code and 24-bit serial address. This is unique for each system and cannot be changed.
A Logical address is a 32- bit address assigned to each system in a network. This works in Layer-3 of OSI Model. This would be generally the IP address.
Simply physical address known as hardware address.IP address is known as logical address.Physical address is used for identify the PC on network and IP is used for identify the network on the PC mac address 48 bit address IP address 32 bit address. Source: CoolInterview.com