An annotated bibliography is an alphabetical list of citations along with a brief summary and evaluation of the sources.
Annotations differ from abstracts in that they offer critical or evaluative insight in addition to summarizing. It's a great way to prepare for a research project and it also helps other researchers get a good overview of the topic.
A literature review is not just a summary of sources, it's an integrated analysis of sources related to your research question.
A literature review will point out relationships in the research articles or studies you discover, identify common themes and ideas among the research, as well as points of disagreement. Like an essay, it typically includes an introduction, body, and conclusion.