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Google = PageRank. PageRank (PR) is how Google rates websites. PageRank ranges from PR N/A, and PR0 to PR10. Shiny new web sites start at PR N/A. Mega content websites like Google and Yahoo are PR9. PR10 = God. :)
Other Back Links is a term to describe the number of links on a web page. Posting your link on a page with lots of links (aka, high OBL) is less effective SEO wise than a quality page with a few links (aka, low OBL).
Slang for the amount of PageRank given to you by another website. Get yourself linked on a PR9 and you'll have a great deal more "link juice" than a link from your Grandma's new knitting blog. Likewise, if you post your link on a web page with high OBL you will have less page rank than if your link is on a site with low OBL.
Is an HTML tag. A link may be set to dofollow or nofollow. As you can imagine, Dofollow links pass more link juice to your website than nofollow links.
Is the opposite of dofollow, but contrary to what you might think still pass some link juice to your website. In theory, two nofollow equals one dofollow link. To summarize: High PR is better than Low PR, Low OBL is better than High OBL, and Dofollow is better than No follow.