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Could anyone give me a short explanation on the differences among bugs, issues, and tasks in TFS?

For the Scrum TFS Process Template

Bug- Any problem in existing functionality, or missing functionality. Defect in code or requirement, error which is not designed to be.
Issue (Impediment)- Any problem which might block the development process, example : a third party driver you identified as dependency is not releasing on time, so it is an issue in your development process.
Task- Any work which is planned as part of development of your project, either as result of bug, or issue or requirements, including requirement analysis or development, or testing. etc.

For the Agile TFS Process Template

Bug- A bug communicates that a potential problem exists in the code that your team is developing.
Issue- An event or cause that may delay shipping.
Task- A task communicates the need to do some work. Each team member can define tasks to represent the work that they need to accomplish.

When we used TFS in the past.

ISSUE - Is a problem reported by a user of the software that requires investigation. This could be a code bug or a requirement change (prior to it been made a change request)

BUG - Is a problem "in the code" confirmed by a developer. Information can be provided like possible causes and workarounds. Can be marked as fixed and link to source code check ins.

TASK - Is a work item that is given to people to complete. Such as a feature that needs to be completed. If it is a programming task, it can be linked to source code check ins.

Update

See comment below. Just remember, use the system in a way that benefits your team. Everyone works differently.

ISSUE - Covers everything about the project which may require some work or investigation. It is not necessarily an issue with the code, but it creates a stating point for investigation. If an issue is raised, which requires a change to the project it may lead to a bug or task.

MSF Agile Work Item Types

MSF Agile contains the following work item types:

Bug. Represents a problem or potential problem in your application.
Risk. Represents a possible event or condition that would have a negative impact on your project.
Scenario. Represents a single path of user interaction through the system.
Task. Represents the need for a member of the team to do some work.
Quality of Service Requirement. Represents a requirement constraining how the system should work.

MSF CMMI Work Item Types

MSF CMMI contains the following work item types:

Bug. Represents a problem or potential problem in your application.
Change Request. Represents a proposed change to your application.
Issue. Represents a situation that may block work or is currently blocking work.
Requirement. Represents a description of what your application should do to solve a customer problem.
Review. Represents the results of a code, design, or deployment review.
Risk. Represents a possible event or condition that would have a negative impact on the project.
Task. Represents the need for a member of the team to do some work.

Please refer the links here which describes the details of Work Item Types:

http://msdn.microsoft.com/en-us/library/ms400752.aspx

http://msdn.microsoft.com/en-us/library/bb668962.aspx

Sometimes Error, Bug and defect is defined as A mistake in the code is called Error when it is identified by the testing team called a defect, and when it is accepted by the development team called Bug. If it does not meet with customer requirements as in the SRS document it is called Failure.