Bug severity is a way to categorize a bug. In some organizations, it measures the degree to which a bug damages a system.

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What is the difference between bug severity and bug priority?

This is basic question. Most project mix both into one. What is the reason why to use both severity and priority of the defect? What says testing methodologies about that? It is practical to choose ...
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What is common practice for labels of the bug severity?

What is the most common labels for the bug severity: High-Med-Low-etc., A-B-C-etc., 1-2-3-etc. or different? Where they origin? What is the best practice to use?