They are both are waterproofing sealants, but they are not the same. Not only do they're made with different ingredients, but they also work differently. The plumber's putty is a soft and pliable substance that is used for making a watertight seal in the kitchen, bathrooms, and laundry areas. However, a major distinction is that it doesn't work under pressure. On the other hand, the pipe dope is applied to the threaded pipe joints and it can also handle the pressure. Furthermore, it comes in handy in filling the gaps in the drain and sink pipes.