ASP stands for many things. Association of Shareware Professional
Active Server Pages, Application Service Provider. Type define:asp
into google's search box.
asp is also a cobra used by the Pharaohs as a symbol of their power over life and death.
ok ok back to the question. I think we're talking about active server pages.
ASP is an application environment. It is a way to build web application that doesn't require you to compile code. Within the framework, you have many well written library for the most common functionality you would like to have when building a dynamic website. Language wise, people usually use VBscript to write their code, although other languages like JScript is possible. An ASP environment is provided together with M$'s webserver IIS, which parses and executes the VBscripts that you wrote.
Yes .Net is a framework, but it is a larger and deeper framework. I guess by putting ASP and .NET together they mean you can access the .NET framework the same way you do it using ASP. The .NET framework is much richer than the pure ASP framework. .NET's ultimate goal is to change the Internet by creating an online application-hosting architecture and integrating desktop and handheld devices that use voice and handwriting recognition.