Different translators intentionally approach all these problems differently - but all with the same goal of trying to make God's Word clear and accessible in our own words.
To better understand what separates different Bible versions from one another, you first need to understand the fundamental translation philosophies behind them. Each translation style brings its unique lens to scripture, influencing how passages are interpreted and applied.

Formal Equivalence (Word-for-Word)
Formal equivalence prioritizes achieving word-for-word accuracy, focusing on a meticulous and precise translation of the original text's exact words as closely as possible into the target language. This approach preserves idioms, even if we lose their intended meaning.
Examples: The KJV and NKJV, ESV, NRSVUE, NASB, CSB, and NABRE versions are all different approaches to formal equivalence translation - some more stringently literal than others.
Functional Equivalence (Thought-for-Thought)
Functional equivalence - also called dynamic equivalence or thought-for-thought translation - focuses on conveying the meaning of thoughts or ideas rather than a direct word-for-word translation, aiming to preserve the original writers' intent and context. Here, idioms will be translated in a way that makes their intended meaning clear, even if it means losing the actual Hebrew or Greek phrase.
Examples: The NIV is among the most balanced translations available, but tends slightly more toward functional than formal equivalence. The NLT, CEB, and NIrV are more strongly thought-for-thought approaches.
Paraphrase
As the name suggests, paraphrases rephrase and restructure sentences from the original text to enhance clarity and accessibility for a modern audience. In other words, paraphrases fall on the far end of the thought-for-thought spectrum. While some paraphrases are well-loved and respected, they can be controversial, because they stray distantly from the original language of the Bible.
Examples: The Message and the Living Bible are paraphrased versions of the Bible. The Amplified Bible is, too, although it is unique in being a word-for-word paraphrase, where it provides multiple meanings of many words to help illustrate their various meanings.

Summary: The enduring and influential classic that set the bar for English Bible translations. Best for traditional worship settings and historical or literary-minded readers.
One of the most popular books in the world for hundreds of years, the King James Version needs little introduction. Commissioned (or “authorized”) by King James I of England in 1604, undertaken by a team of 47 scholars, and released in 1611, the KJV became the definitive Bible version in the English-speaking world until at least the mid-twentieth century. It is directly responsible for hundreds of English terms and phrases that we use every day — often without realizing their Biblical origin.
The KJV initially took a formal equivalence approach, though (because it was intended to be read aloud in services) it paid special attention to the beauty and elegance of the language. That effort still bears fruit today.
On the other hand, our language has changed a lot since 1611, and some of the phrasing and sentence structure can be confusing to modern readers. We no longer use “thee” and “thou” as informal pronouns, for example, which makes them paradoxically sound more formal.
In addition, 400 years of Bible scholarship has enabled us to see areas where the KJV translators had less access to the resources we have today, and had to make some occasionally puzzling guesses. (My personal favorite is from Numbers 23:22, God “hath as it were the strength of an unicorn.” Today most translations use “wild ox.”)
Sample passage: Now this I say, brethren, that flesh and blood cannot inherit the kingdom of God; neither doth corruption inherit incorruption. — (KJV)
Summary: The most popular modern version of the Bible, known for its excellent and broadly accessible balance of accuracy and readability.
The NIV’s deft balance of accuracy and readability has established it as the most popular modern Bible version. More than 100 international scholars labored for over a decade to capture the original meaning of each passage without sacrificing accessibility, beginning in the 1960s and finally publishing the finished version in 1978.
One of the most balanced translations available, the NIV leans just slightly toward a functional equivalence compared to other top translations. It should appeal to a wide variety of readers across ages, reading levels, and denominations.
Readers looking for a closer word-for-word translation, however, might be happier with the ESV or NRSVUE, while those looking for a more traditional feel should stick with the KJV or NKJV.
Sample passage: I declare to you, brothers and sisters, that flesh and blood cannot inherit the kingdom of God, nor does the perishable inherit the imperishable. — 1 Corinthians 15:50 (NIV)
Summary: A straightforward translation that adheres to an “essentially literal” word-for-word approach. A favorite of scholarly evangelicals preferring traditional gendered terminology.
The ESV translation was conducted in the late 1990s by about 100 evangelical scholars and published in 2001, partly in response to the NRSV. Like the NRSV, the ESV is an update of the RSV and aims as closely as possible for word-for-word accuracy while remaining readable.
The translators sought to go beyond the NRSV and what they perceived as some liberties it took with interpretation, particularly its gender neutrality. Instead the ESV endeavored to hold to an “essentially literal” approach that emphasizes word-for-word accuracy and fidelity as well as building on the RSV’s literary excellence and depth.
Sample passage: I tell you this, brothers: flesh and blood cannot inherit the kingdom of God, nor does the perishable inherit the imperishable. — 1 Corinthians 15:50 (ESV)
Summary: A unique translation balancing word-for-word equivalence and paraphrase by offering multiple translations and exposition (“amplifications”) on many words and phrases. It’s a useful tool for private study but has received criticism for interpolating phrases like “personal Savior” that did not exist in the original time and language of the Bible.
Sample passage: Now I say this, believers, that flesh and blood cannot inherit nor be part of the kingdom of God; nor does the perishable (mortal) inherit the imperishable (immortal). — 1 Corinthians 15:50 (AMP)
Summary: A looser translation that emphasizes readability, simplifying complex terms and phrases while preserving their original meaning. A good choice for new and young readers, and daily devotional readers seeking a new perspective.
Developed by some 90 scholars from various denominational backgrounds in the 1980s and released in 1996, the NLT is notable for being the most popular of the firmly functional-equivalence translations.
Rather than striving for word-for-word accuracy, the NLT translators sought to convey the original meaning of the text as clearly as possible for modern readers. This includes updating measurements and dating to modern standards (e.g., feet instead of cubits), as well as making sense of archaic idioms (“get yourself ready” instead of “gird up thy loins”).
These modernizations make the NLT a nice, accessible option both for new Bible readers in search of clarity and for long-time Bible users seeking a new approach and perspective.
Sample passage: What I am saying, dear brothers and sisters, is that our physical bodies cannot inherit the Kingdom of God. These dying bodies cannot inherit what will last forever. — 1 Corinthians 15:50 (NLT)
Summary: A rigorously word-for-word translation that seeks to reproduce the original structure of the Hebrew, Aramaic, and Greek. Generally considered one of the most literal Bible translations available in English.
First published in 1971 and updated in 1995 and again in 2020, the NASB strives to be as literal and precise as possible without sacrificing readability and modern English usage.
The 1995 version was a significant update to the original release. It echoed the NKJV by removing archaic pronouns (thee, thy, thou) and restructuring awkward phrases. In 2020 the NASB was updated again to account for the latest scholarship (including gender neutrality where appropriate to the context) and modern language usage (such as “let’s go up” instead of “let us go up”).
Throughout these improvements, though, the NASB has held closely to a strict word-for-word equivalence. This makes it a good choice for scholars and anyone looking for a very close adherence to the original structure and wording of the Hebrew, Aramaic, and Greek texts.
Sample passage: Now I say this, brothers and sisters, that flesh and blood cannot inherit the kingdom of God; nor does the perishable inherit the imperishable. — 1 Corinthians 15:50 (NASB)
Released in 1901, the ASV took a strict word-for-word approach that sought to capture the original sense of the Hebrew, Aramaic, and Greek texts, while retaining the KJV’s use of Elizabethan English (such as “thee” and “thou”). Though not much used today, it served as the basis for most formal-equivalence translations since, including the RSV, NRSV, ESV, NASB, and the Amplified Bible.
Young's Literal Translation of the Bible was first translated in 1862 by Robert Young, a Scottish publisher who was self-taught and proficient in various ancient languages. Young also compiled Young's Analytical Concordance and Concise Critical Comments on the New Testament. A revised version of the YLT was published in 1887 and a new revised version in 1898, a year after Young's death.
Young's Literal Translation is an extremely literal translation that attempts to preserve the tense and word usage as found in the original Greek and Hebrew writings. Young was especially concerned that many English translations changed the tenses of Greek and Hebrew verbs, and he insisted on using the present tense in many places in which other translations use the past tense, particularly in narratives. Young's Literal Translation also consistently renders the Hebrew Tetragrammaton (divine name) throughout the Old Testament as "Jehovah," instead of the traditional practice of representing the Tetragrammaton in English as "LORD" in all capitals.
Young's Literal Translation is very fitly named. It very likely is the most strictly literal English translation ever developed. The literal renderings of the verb tenses are especially unique and can be quite valuable in studying God's Word. Aspects that are usually only clear to those who can study the original Greek are clarified in the YLT. The strictly literal translation method can make Young's Literal Translation somewhat difficult to read and in some instances very unnatural sounding in English.
Sample passage: John 3:16 - "for God did so love the world, that His Son -- the only begotten -- He gave, that every one who is believing in him may not perish, but may have life age-during."