Answer:
label:
Label control renders text within span tag to browser. It is possible to apply style and style sheet class to label.
Literal:
Literal will render it's text that is assign to text property. It cannot render any additional html tag. Default mode for literal is “Transform”. Best practice to set Mode="Encode" for literal control
It is best practice to use literal instead of Label control wherever it possible in asp.net application.
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