Thousands of webpages have been dedicated to that comparison... There are so many variables involved that in my opinion it isn't worth it.
Regarding channels and bits: a digital image is comprised of three channels: the red channel, green channel, and blue channel. Each pixel of the image has a red component, a green component, and a blue component. The number of "bits" used to represent a color determines how finely the color can vary. With 8 bits per channel, a single color can have 256 variations. (So you can get 256 shades of red in your image). With 16 bits per channel, a single color can have 65536 shades. That's a huge difference. But that difference really becomes important when you are editing your image during post processing, such as in Lightroom or Photoshop.
With images that are only 8 bits per channel, you will quickly get posterization (banding) as you adjust tones. With 16 bits per channel, you have more flexibility.
The second problem is with jpeg (compressed, lossy) images, versus raw (lossless) images. When editing the jpeg images during post processing, the smudges and such introduced by jpeg compression will be amplified, and frequently very noticeable in the final result. That is avoided with raw (lossless) images. Raw images give you everything the sensor saw. Jpegs are an interpreted image, and not recommended to be edited further.
To be accomplished with scanning, it is very important to understand these concepts. Your images will appreciate it!