Strictly speaking, a WEB-DL is a direct download of the video file from Netflix’s servers (often via CDM exploits). An HDRip is a real-time capture. However, the distinction has blurred – many scene groups label their high-quality captures as HDRip. In practice, a well-done NF.HDRip in HEVC is visually indistinguishable from a WEB-DL, especially at 720p. You won’t notice any loss of detail or added noise.
Are you looking to focus more on the of video encoding, or
: Signifies a High-Definition Rip, meaning the file was captured or ripped directly from an official digital HD stream rather than an optical disc.