I'm surprised no one answered your questions, so let me give it a shot.
An ND filter, with digital, allows you to shoot at longer exposure times than you normally could. Their main use, again with digital, is showing movement, most often in Water, but they can be used artistically to create the illusion of movement in grass, or other subjects, even people walking on the street. An ND filter, covers the entire lens. Do not confuse them with Graduated ND filters which only cover a portion of the lens.
A polarizer reduces glare, and reflections. It can also be used to reduce your shutter speed like an ND, they are normally about 2 stops, but their primary use is different than an ND filter. Polarizers will also make blue skies bluer, make clouds stand out, and enhance fall colors.
As to which works better on which lens, the ND filter will work with "almost" any lens. With supper wide lens, however, you may get some vignetting from the filter ring. In this case, a slim ND filter is better.
A polarizer on the other hand, will sometimes give an uneven color to blue skies on super wide angle lens. So one side of the photo might be a light blue while the other is a darker blue. It will look unnatural.
The two can be used in conjunction with each other also.
Those are the basics without the technical jargon of angle of degrees from the sun that a Polarizer works best at and yadayadayada.
As for the specific brand of filter you mentioned, I have no experience with them. Most ND filters, even though they say they are neutral, give off some color cast. Because of this, I have chosen to use B&W ND and Polarizing filters. The results are consistent and it is easier to deal with just one variable in post processing. The brand that you mention however, is recognized as very good, so if you buy their top of the line filters, you should be more than satisfied.
To sum up, the ND will allow you to get that silky smooth flowing water effect you see in many waterfall shots. The Polarizer will allow you to reduce glare and reflections and, make your colors pop. You really need both in your kit. If I had to choose one to start with, it would be the polarizer. You will use it more often than the ND normally.
To keep the cost down, some photographers buy ND and Polarizers for the largest lens they own, and then use step up rings so they can use the same filters on smaller diameter lens. So if your largest lens is a 77mm, and you also have a 58mm, just buy the 77 mm filter and a step up ring from 58 to 77. Keep in mind that this will keep you from using a lens hood, and you will have to sometimes shield the front of your lens with your hat or something else to keep flare from occurring. Personally, I buy a Polarizer for each lens size I own as I use them much more often than I do ND filters, and it lets me use a lens hood when I do, and I carry a 3 stop and a 6 stop ND in the largest lens size with step up rings.
I hope that helps some.
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