Balanced audio connections provide superior performance as they reduce susceptibility to external noise caused by electromagnetic interference and are therefore more suited to professional applications. It permits the use of longer cables typically used in sound recording and production.
However, an unbalanced audio connection may provide acceptable quality over shorter distances between a driver (output) and a receiver (input). Typically, for cable lengths < 25 feet, an unbalanced connection can supplant a balanced one without much loss in quality.
With a longer distance between a driver and receiver, unbalanced lines tend to act as antennas and pick up surrounding noises or hum, thereby introducing distortion.
Choosing between the two essentially boils down to the distance between the input and output devices. Overall, balanced audio connections are the safer bet.