There are multiple license are available in office365 but majorly all organizations are using E1, E3 and E5. E stands for Enterprise.
will see the differences between these
E1:
Mailbox size is 50GB,
Cannot install desktop application, only we can access all applications over the browser that is called Web.
For every action internet is required, cannot access old emails or files without internet,
E3:
Mailbox size is 100GB,
Archive Mailbox size 100GB,
Expanding Archiving mailbox will provide 1.5TB of data.
We can install desktop applications using Office suite,
we can use both desktop and web applications,
For desktop applications we can work offline and access old emails,
E5:
Mailbox size is 100GB,
Archive Mailbox size 100GB,
Expanding Archiving mailbox will provide 1.5TB of data.We can install desktop applications using Office suite,
we can use both desktop and web applications,
For desktop applications we can work offline and access old emails,
along with all these we will get security, compliance features, PowerBI access.

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