Are literals == values?

Are literals == values?

My understanding is that variables point to values, and while the same
variable can be reassigned to multiple values, the values themselves are
immutable. While Learning JavaScript the concept of "literals" seems to
come up often, but I haven't found a clear explanation that differentiates
between literals and values. In fact, one author equates them.
How would you compare literals to values? Please provide simple examples.