laps / lapse are similar-sounding terms with different meanings (referred to as homophones). To better understand the differences, see below for definitions, pronunciation guides, and example sentences using each term. 👇
laps: (noun) the upper side of the thighs of a seated person. (noun) an area of control or responsibility. (noun) the part of a piece of clothing that covers the thighs. (noun) a flap that lies over another part. (noun) movement once around a course. (verb) lie partly over or alongside of something or of one another. (verb) move with or cause to move with a whistling or hissing sound. (verb) take up with the tongue.
lapse: (noun) a break or intermission in the occurrence of something. (verb) end, at least for a long time. (verb) drop to a lower level, as in one's morals or standards. (verb) let slip.
laps: l·AE·p·s
lapse: l·AE·p·s
(Examples are Wikipedia snippets under the CC ShareAlike 3.0 license. Definitions drawn from WordNet.)