A graph in the sense of the object "a graph of a function" often has the specific definition, for a real-valued function $f$ of being the set of points $\{(x,y)|y=f(x)\}$. That is, graph can be used as a noun to mean literally the set of ordered pairs. It is interesting to note that this is also sometimes the definition of the function itself.
Beyond that one specific technical meaning, I do not think that (in the context of ODEs, calculus, or precalculus mathematics) there is a formal distinction between the two words. Informally, I use each word a bit differently.
The word graph in the sense of the action "graph a function" means to make a drawing of the set of points in the (noun) graph of the function. This sometimes has the connotation of a careful, precise drawing. In contrast, "sketch the graph" sometimes has the connotation of being a less-formal illustration showing key features of the graph of the function without necessarily being as precise.
The word plot in the sense of the object "a plot of a function" means a visual representation. There are other types of plots, such as scatter plots and line plots, that would not typically be referred to as graphs. I would say that graphs are a specific type of plot, but I'm not sure that's quite right.
The word plot in the sense of the action "plot the graph of a function" or "plot some points" typically means drawing with the connotation of precision. I generally would not use the phrasing "plot the graph."