Taken from http://hometheater.about.com/od/lcdtvfaqs/f/lcdfaq2.htm:
Plasma TV Overview : More like CRT style. Plasma television technology is based loosely on the fluorescent light bulb. The display itself consists of cells. Within each cell two glass panels are separated by a narrow gap in which neon-xenon gas is injected and sealed in plasma form during the manufacturing process. The gas is electrically charged at specific intervals when the Plasma set is in use. The charged gas then strikes red, green, and blue phosphors, thus creating a television image. Each group of red, green, and blue phosphors is called a pixel (picture element).
LCD TV: Different technology. LCD panels are made of two layers of transparent material, which are polarized, and are "glued" together. One of the layers is coated with a special polymer that holds the individual liquid crystals. Current is then passed through individual crystals, which allow the crystals to pass or block light to create images. LCD crystals do not produce their own light, so an external light source, such as florescent bulb is needed for the image created by the LCD to become visible to the viewer