Google Adwords, in simple words, is an advertising network which allows you to display your product/ service/ website online. Adwords is a Google product. Adwords is quite [popular among advertisers and many websites/companies use it to advertise online.
Adsense program allows publishers and content owners to make money by displaying ads on their blogs/websites whereas Adwords allows companies/ individuals to advertise online.
You can use Adwords to display to advertise your own blog/website. You just need to create and Adwords account, login to it and create your own ad campaign. Once you are done with it, you need to make a payment and after approval from Adwords team; your ads will be live on Google and its publisher partner sites.
You can go through various resources at Techulator to know more about Adwords. Also go through the following Ask Experts thread to get some more idea.
Hope this response helps you!
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