The Label Control is used to place text which can be static or assigned, for which you can provide style by setting properties regarding its look which is unable for Literal Control.
But in Literal Control you can include the HTML code,in which you can explore its style .
The Literal control is used to display text; that is, it renders static text on a Web page without adding additional HTML tags. It passes content directly to the client browser unless you use the Mode property to encode the content.
It can be used to control the page title or button labels if requirement is dynamic.
This link demonstrates with illustration, check