What is the difference between a point transformation and a vector transformation?
Here's the simple answer.

In 4D, to be able to multiply them by a 4x4 matrix, vectors are represented as (x,y,z,0) and points are represented as (x,y,z,1).

Since the 4th row of a 4x4 matrix represents the translation of the matrix, the above representations make it so points are affected by translation, but vectors are not.

Both vectors and points are affected by the rotation, scaling, etc though.

Caveat:

There is deeper discussion to be had if you expect the vectors to have certain properties.  For instance, if you transform a triangle's normal by the same matrix you transform the triangle's vertices, it likely won't actually be the normal vector of that triangle anymore. This is because normal vectors have a sort of inverse relationship to the vertices that they are calculated from.