Enable=true : It will just enable the control. You can see the control and use it. Enable=False : You can see the control but Its kind of view only. The properties attached to the control won't work(for example mouse over , click etc etc). On the other hand visibility will either hide or show the control depending on the value you set.Visibility= True will show you the control and you can see and use it. When you set the value as false, it will stop the control from rendering in your form. You won't see the control. If its a webpage and if you can view the source code ,you won't find the contents of the control at all.
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