"Grain alcohol" is ethyl alcohol (ethanol). Gel antibacterial lotions are typically somewhere around 70% ethyl alcohol. Ethyl alcohol is most potent as an antiseptic when diluted slightly with water to somewhere around that 70% ethyl alcohol range. If you're buying "grain alcohol" that is 190 proof (95%) or greater, and using it straight as an antiseptic, then you're not getting the best value for your money.
Rubbing alcohol is typically 70% isopropyl alcohol. It too is a good antiseptic.
The gel antibacterial lotions are easier to apply, less messy, and they contain emollients that prevent the skin from being dried out by the alcohol. Generally speaking they are the best solution to the problem, combine with thorough washing several times a day.
As for which is better, I suppose it all comes down to concentration and application, but all should work just fine.
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