As Alan stated,
Latic acid is a by product of exercise and limits performance when the anaerobic energy system is used to its maximum, recovery is usually quite quick and specific training within this system can greatly extend the time before the "burn" or failure occurs.
Deleyed onset of muscle soreness DOMs occurs after arduos prolonged exercise or any increase in physical activity. This Anatomical adaptation takes as your body grows" to better cope with the new demands being placed on it, it can last upto 12 weeksdepending on your level of pre fitness.
The way to minimise DOMs is to never increase your activity or taining by more than 10% per week, use post exercise nutrition in the form of either recovery drinks or protein supplements. It is also now commonly considered important not to stretch for 24 hours post endurance training or events, have cold baths, pref' ice, to minimise the effect of microtrauma. prevent over build of scar tissue by vaso constriction, therefore minimal heat application for 72 hours.
As always advice is personal opinion based on clinical experience and not meant as an exhaustive regime, everyone is an individual and responds differently to treatment.
regards
Gaz