Philadelphia, the definition of these words are tough.  One person *could* define Tension as "high stakes".  For me, I've received the definitions from Sol Stein's book, so I'm kind of sticking with that.
So ... one way to look at Suspense is that it is something that builds and pulls the reader on to the end so they can find out "What happens".
Tension, at least according to Sol Stein, is the small stuff that keeps the reader interested in each individual scene. Even though it is the "small stuff", it is still vitally important, and if you don't pay attention to keeping enough tension in each scene, the reader will lose interest in your writing regardless of the "suspense" of the broader book.
Two synonyms for Tension: Strain, Stress, and Pressure.  (Yes, there are three kinds of people in the world, those who can count, and those who can't.)
Tension comes in short bursts of seconds or minutes. And it fades away quickly in the reader's mind unless you renew it.
But ... you need to give them a break here and there. Don't stretch the rubber band too far or it will break. Give them breathers.
Our instinct is to be reasonable and provide answers to the problems in the book, to ease the tension, but as writers we must not do this.
Create it and do not dispel it immediately. Let it linger for as long as it can.
Sol Stein goes on to say that the most important moment of tension in a novel is its first use, which should be close to the beginning.
Your job is to, with this first tension, take charge of the reader's emotions by creating a living, breathing  character and then create tension for them, as fast as we can.
Tension examples:
* Dangerous work for the character (but the reader must care)
* A deadline is nearing
* An unfortunate meeting occurs.
* An opponent is trapped with the character in a closed environment
* Something critical has happened, but the character is unaware.
Spoken dialogue is one of the best ways to introduce tension.
Again, tension is the small stuff that makes an individual scene interesting. It is not suspense in that it does not overarch the entire novel. Thus it fades quickly and must be renewed in each scene.
Anyway, that is some of the wisdom I've gleaned from Sol Stein.  For my first novel, I rated each scene on how much tension it had and then found the weakest scenes and either improved them or eliminated them.
-Robert   
