What is meant by "50% related to sibling" versus "95% related to chimpanzee"?
50% related to sibling means that, out of the portion of the genome that vary in humans, you share half of them with your sibling. (if you compared total genetic match not just ones that actually vary in humans you are looking at something closer to  ~99.95% match)  Now because because variations are not evenly distributed and your parents likely came from the same source population you usually share more with a sibling, but recombinations has a random aspect, and sex chromosomes have a large effect as well. So 50% would be the average using the most common methods of comparison, and even then it is only shorthand. It is a calculation more than a conclusion, if you are 50% related to your parents and so is your sibling then the probability calculation is [0.5 X 0.5 = 0.25]  Note this is in humans, other animals use different chromosome distributions which can result in different numbers, bees for instance have haploid males making females siblings far more closely related.

95% identical to chimpanzee means out of all the genetic elements only 5% of human ones are unique to humans (or chimps) and not shared by chimps and humans while 95% is shared by both. 95% is a lower estimate because they are using the strictest comparison. 

One important thing to consider is there are many ways to compare genetic variance, consider a book as an example, if I switch 2 chapters is that one change, two changes, or hundreds of changes (by the number of letters or words in the chapters). because criteria are different you get slightly different estimates of difference. In the case of the 95% estimate that would be using the "hundreds of differences" method of comparing. Deleting the sentence "Mary had a little lamb" would be 21 changes using this method. Other methods would consider it only one difference since it is the product of a single mutation.