Similar, but not the same. Waterproof means that the shoe or boot can be completely submerged in water and water will not soak all the way through the material. You can wade through wet mud and puddles and your feet will stay dry. Waterproof footwear is typically made from rubber or synthetics, such as neoprene or polyurethane.
Water-resistant means that you are ensured a certain degree of protection from water and your shoe will stay dry after a quick submersion, but it is also likely the water will soak through the shoe fibers eventually, getting your socks and feet wet and yucky.