Well, they use joint compound to fill cracks originally so why
wouldn't you use joint compound to fill small holes and cracks now.
You can use joint compounds for any repair but large holes and repairs
require that you build up in thin layers or you will likely get
cracks, so you might want to use spackle for those. Joint compound is
excellent for screw holes and you put it on with your finger leaving a
bump that you can sand off level with the wall.

Nil wrote:

I have a variety of wallboard wounds to repair. There are some cracks,
dings, screwholes, and a hole that's about 1.5" x 5". I find on the
hardware store shelf "Vinyl Spackling", "Lightweight Vinyl Spackling",
and "Patching Plaster". I already have a big tub of joint compound.

What's the difference between Spackle and Patching Plaster? The labels
are almost identical. Why would I choose one over another? Can I use
joint compound for these repairs?