Say you want to share some resource, like a class or a variable across all threads/sessions within a ASP.NET web application. What is better?
1) A static variable h
If you only have one of those, there is little difference.
If you have several, you should use static variables rather than Application variables. The Application.Lock method will lock all Application variables, while you can use separate syncronisition identifiers for your static variables, so that each lock only affects the code that accesses that specific variable.