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.htm and .html hold the same thing: a text document marked up with HTML tags, which a browser turns into a page. The shorter spelling comes from MS-DOS and early Windows, where a file extension could not exceed three characters, and it survived in the tools built in that era — FrontPage wrote .htm by default, and so did many "save as web page" commands.
Web servers do not distinguish between the two either. Both are served as text/html, and a link to page.htm works exactly as a link to page.html would. The only practical difference is convention: a server looking for a default document may be set to try index.html first and index.htm second, or the other way round.
Because the file is plain text, much of what a page shows lives elsewhere — stylesheets, images and scripts that it references by address. A converted copy carries the markup and the text it contains; how much of the rest travels with it depends on the format it is converted into.
Converting to PDF or to a word processor document renders the markup the way a browser would lay it out, so headings, tables and lists survive as headings, tables and lists rather than as a picture of them. What a page pulled from elsewhere — a stylesheet on a server, an image referenced by address — is not part of the file itself, and a page saved as a single .htm rather than with its folder of assets may therefore look plainer than it did online.