Let $R$ be a ring. Let's work in the category of left $R$-modules. There is a way of looking at $\operatorname{Ext}_R^1(M,A)$ as classifying extensions of $M$ by $A$ up to equivalence.
But, if we look at the $\operatorname{Ext}_R^1(M, -)$ as the first derived functor of $\hom(M, -)$, for every short exact sequence of $R$-modules $$0 \to A \to B \to C \to 0 $$ we get a long exact sequence of form $$0 \to \hom(M,A) \to \hom(M,B) \to \hom(M,C) \to \operatorname{Ext}_R^1(M,A) \to \operatorname{Ext}_R^1(M,B) \to \operatorname{Ext}_R^1(M,C) \to \operatorname{Ext}_R^2(M,A) \to \ldots $$
In this formulation, we could say that $\operatorname{Ext}_R^1(M,A)$ in a way measures failure to lift homomorphisms $M \to C$ to homomorphisms $M \to B$. This gives a connection between extensions of $M$ by $A$ and lifting of homomorphisms $M \to C$.
For an example, if we have no non-trivial extension of $M$ by $A$, then $\operatorname{Ext}_R^1(M,A) = 0$ and we can always lift homomorphisms $M \to B$ to homomorphisms $M \to C$.
My question is: what would be a more concrete way of connecting these two notions? If I have a homomorphism $M \to C$ that I can't lift to homomorphism $M \to B$, do I automatically get an extension of $M$ by $A$? Is this described in some book/set of lecture notes?