Daedalus is a full node, this means it downloads and synchronizes with the blockchain.
It's developed by IOHK, the blockchain research and development company behind Cardano.
fully validates every block and transaction, you don't need to trust anyone
create secure and fancy looking paper wallets
supports as many wallets as you like
needs time to synchronize when opening, cumbersome on bad internet connections
needs a lot of disk space (more than 4.5 GB)
since it's a full node some users do have some problems from time to time, for several reasons
no support for hardware wallets like Trezor or Ledger Nano (will change soon)
Yoroi is a lightweight node, this means it doesn't need to download and synchronize with the blockchain.
It's developed by Emurgo, the commercial arm of Cardano.
just open and use it - instantly
it doesn't need much space (less than 20 MB)
as a Chrome browser extension Yoroi is sandboxed by design
supports Trezor hardware wallet, soon also Ledger Nano
a lightweight node has to connect to a full node, this means you need to trust a 3rd party (of course not with your private key, but e.g. reliability)
does not support paper wallets
currently no multi wallet support
There are others
There are other wallets like Infinito, Ada Lite or Atomic Wallet and we know people that are happy with them.
For now, we would not use them personally for different reasons and therefore can't endorse them on this site. This does not mean they are insecure or bad.