next inside a block returns from the block. break inside a block returns from the function that yielded to the block. For each this means that break exits the loop and next jumps to the next iteration of the loop (thus the names). You can return values with next value and break value.
#!/usr/bin/ruby
collection = [1, 2, 3, 4, 5 ]
stopped_at = collection.each do |i|
break i if i == 3
puts "Processed #{i}"
end
puts "Stopped at and did not process #{stopped_at}"