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Youtube videos in high quality or high definition?

When I click on a youtube video, it usually starts playing in bad quality but there's an option at the bottom left for HQ. When I click on that, it plays in high quality. But some videos (not as many) say HD and they play in high definition. I don't understand which is better, HD or HQ? And what does 720p mean?

Public Comments

1. HD is the superior quality (Resolution 1280 x 720) "High Quality" came before HD and the resolution is lower (640 x 480)
2. HD(High-Definition) is the best quality. Explanation of 720p and 1080p is here: http://www.youtube.com/watch?v=Z-JXfyvlPh0 And HQ(High-Quality) is good quality.