I reckon this won't be the greatest explanation, but I differentiate between Format and Input Mask as so:
Input Mask forces the user or whoever is entering data to input according to your Input Mask definition.
Formatting takes the data that has been input and 'Formats' according to how you want the data displayed.
Example: date = January 1, 2003
No matter how the user enters this date, as long as it's recognizable by Access as a date, then your Format will display whatever you've defined (e.g. "dd-mmm-yyyy") once the user has updated that field.
With an Input Mask, the user will be restricted to input their date in the "dd-mmm-yyyy" 'format' (if that is how you've setup the input mask).
Beware of setting Input Masks or Formats in your form if you've already done so in the table(s) it is based on (confused myself a few times doing that).
HTH,
John