The name itself shows the difference between both of them. Bug reporting tools help you to report or log a bug against a product/functionality. Once the issue is reported, bug reporting tools duty is done.
Bug tracking tools keep track of activities and actions on the issues (can be bug) reported and many of these tools work in a collaborative environment.
But now a days you hardly see two different tools doing these. Mostly, a single tool is used to do both the activities i.e., logging and tracking.