I'm not an electrician by trade, however having said that here is how I understand it. We have 3 wires that come into our homes, two hot wires and a ground. The ground is tied to a rod outside literally driven into the ground and to the ground bus in the box. The hot wires coming in are both 120V lines but are out of phase with each other which is why they measure 240V between them. At the box both the white (neutral) and green (ground) are tied together. From the box the three wires, black (hot), white (neutral) and green (ground) go to each outlet. The white is only neutral in that it should not have any voltage difference between it and ground, however it is the return line for the current that is going out the black wire and current is what can shock or harm you.
At the outlet if you measure between the two slots you get 120V. If you measure between the right, smaller one, and ground you will get 120V, and if you measure between the larger left one and ground you should get 0V since they are tied together back at the box. Current flows out the black and back through the white. There should never be any current flowing through the ground. So a two prong device does not have a ground going to it and should be well insulated. A three prong device should never have the third prong cut off since it won't have the same level of insulation and could cause a disaster if something shorted within it.
This is also a good place to put a plug in for always using GFCI outlets or breakers anywhere near our tanks or anything else that gets wet. They monitor the current flowing between the black and white and any deviation it will assume current is flowing elsewhere and that elsewhere may be up your arm. They are very sensitive and very quick to shut down the circuit. Yoiu may still get a shock or a spark but they may keep it from being fatal or starting a fire.
At the outlet if you measure between the two slots you get 120V. If you measure between the right, smaller one, and ground you will get 120V, and if you measure between the larger left one and ground you should get 0V since they are tied together back at the box. Current flows out the black and back through the white. There should never be any current flowing through the ground. So a two prong device does not have a ground going to it and should be well insulated. A three prong device should never have the third prong cut off since it won't have the same level of insulation and could cause a disaster if something shorted within it.
This is also a good place to put a plug in for always using GFCI outlets or breakers anywhere near our tanks or anything else that gets wet. They monitor the current flowing between the black and white and any deviation it will assume current is flowing elsewhere and that elsewhere may be up your arm. They are very sensitive and very quick to shut down the circuit. Yoiu may still get a shock or a spark but they may keep it from being fatal or starting a fire.