A BLOB is a binary large object that is typically used to store files that contain images, audio files, etc. The 10m (10 megabytes) and 1g (1 gigabyte) are the maximum length that has been defined for those columns. A BLOB can be defined up to 2 GB, but only a 1 GB (or smaller) BLOB can be logged (via the DB2 transaction recovery log).
A CLOB is a character large object that might hold character data such as XML or a text file.