Blacklist – a list of e-mail addresses to be automatically blocked from delivery. Messages in a blacklist are not processed by spam filters, and are simply dropped.
“I blacklisted Joe’s GMail account because of all the spam coming from it. Once he gets control of it again I’ll take him off of the list.”

Greylist – a list of e-mail addresses whose messages are being temporarily suspended to test if they’re spam. Typically spammers will disconnect if their message isn’t immediately processed, while legitimate mail servers will wait for greylisting to complete.
“It looks like that message you’re waiting for is being greylisted. Don’t worry, it’ll be delivered automatically in about 30 minutes. I’ll whitelist the address to make sure you don’t have to wait on greylisting from this sender again.”

Quarantine – storage area for potential spam e-mails. E-mail that receives a “middle” spam score will be quarantined so that the end user can make the call on if it’s actually spam or not. End users can release, delete, whitelist, or blacklist messages from the quarantine.
“I found that e-mail in your quarantine. I went ahead and released it, so it should be in your inbox now.”