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As far as I know they're synonyms. "Psychopath" isn't used much because "psychopathy" can refer to any mental illness.
No, actually, psychopath is used more than sociopath. It
used to be applicable to any psychological condition (hence the usage of 'autistic psychopathy') but now it is used specifically for the category of people who are unable to feel emotional empathy.
Sociopath vs psychopath differs depending on who you ask:
Some use the two synonymously.
Some use sociopath to refer to an acquired, environmentally caused condition that mimics psychopathy (which is biologically based).
Some use sociopath as a 'sociable psychopath' (which would mean most of them) and reserve psychopath for loner psychopaths.
Some use sociopath to refer to someone who has no trouble with empathy, but who engages in violent and/or criminal behavior for another reason (ie, sociopath = DSM-IV antisocial personality disorder), while a psychopath has problems with empathy.
It's sort of an analogous situation to AS vs HFA - many people claim there's a difference, but they all seem to draw it along different lines.