Phagolysosomes:

• Are membrane-bound cytoplasmic bodies formed by the fusion of a lysosome and a phagosome
• Are formed after the formation of the phagosome
• Contain engulfed material as well as lysosomal materials 
• Play an important role in digesting engulfed materials 
• Are microbicidal as they contain hydrolytic enzymes

Phagosomes: 

• Are membrane-bound vesicles formed around solid extracellular particles engulfed by a phagocytic cell during phagocytosis
• Are formed at the onset of phagocytosis
• Contain only engulfed substances
• Play an important role in taking up unwanted materials inside the cell
• Are not microbicidal