It is hard to explain in word... Basicily each aircraft will have different version like -200/-300 which could have many meaning... For B747, -100 was the basic model while -200 was the improve of efficieny+capacity of -100, -300 again is the improve efficiency+capacity of -200...And finally now -400 is the latest version of improved efficiency+capacity... But for 777, -200 and -300 came into services together, so the only difference was the capacity...
For example, B747-467... This means B747family, -400 version and the last 2 letter represent the Boeing customer code which 67 represent Cathay Pacific... This code would be based on who the aircraft first owner or who the aircraft was ordered... For example, when Cathay Pacific sell a B747-267 to Virgin Atlantic, this aircraft will continue to carry Cathay Pacific customer code...
And other example are like B737-85C... This would means it is a B737family, -800 version and first ordered by customer with code 5C which is Xiamen Airlines... Or a B777-21B... This would then be a B777family, -200version and first ordered by customer with code 1B which is China Southern Airlines...
As the Boeing Customer list is too long, it is hard to put it all here, so you can have a look at the following website:
http://www.airlinecodes.co.uk/boeing.asp
And finally, as I have said... For B777family for example, -200 and -300 have very few difference... As both were being designed at a similar time... While -200 have less capacity compare to -300... And that both aircraft have a Extented Range (ER) version which improved the preformance...
Hope you understand my explaination as it is not easy to explain... But if you have anymore question, feel free to ask and I will see if I can help you...