What's the difference between a snapshot, release candidate and releases?

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Can some one tell me a strategy to manage my repositories based on this concepts (snapshot, release candidate and releases). For example should I have a repository for each type or should I manage release candidates as a snapshot or a release?

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Devender Goyal On

Snapshots They capture a work in progress and are used during development. A Snapshot artifact has both a version number such as “1.3.0” or “1.3” and a timestamp. For example, a snapshot artifact for commons-lang 1.3.0 might have the name commons-lang-1.3.0-20090314.182342-1.jar.

Release candidate. A release candidate (RC), also known as "going silver", is a beta version with potential to be a final product, which is ready to release unless significant bugs emerge. ... Beta testers, if privately selected, will often be credited for using the release candidate as though it were a finished product.

Release: These are specific, point-in-time releases. Released artifacts are considered to be solid, stable, and perpetual in order to guarantee that builds which depend upon them are repeatable over time. Released JAR artifacts are associated with PGP signatures and checksums verify both the authenticity and integrity of the binary software artifact.