When verbally talking about methods, I\'m never sure whether to use the word argument or parameter or something else. Either way the other people know what
The terms are somewhat interchangeable. The distinction described in other answers is more properly expressed with the terms formal parameter for the name used inside the body of the function and parameter for the value supplied at the call site (formal argument and argument are also common).
Also note that, in mathematics, the term argument is far more common and parameter usually means something quite different (though the parameter in a parametric equation is essentially the argument to two or more functions).