* Omicron (Ο): Represents a short "o" sound, similar to the "o" in "cot" or "hot."
* Omega (Ω): Represents a long "o" sound, similar to the "o" in "boat" or "go."
Essentially, they are the same vowel but with different lengths, a distinction crucial in Ancient Greek where vowel length affected word meaning. In Modern Greek, the length distinction is less crucial, but the letters remain distinct.