Bearer tokens precede JWT and it's part of the Authorization header.
For authentication & authorization, the caller sends a bearer token. The format of the token is known to both parties and the server knows how to validate it.
It's better than username password combos because (1) not every "account" has a password, (2) tokens can and generally do expire, (3) it's not tied to the password if the password changes the tokens continue to be valid, (4) the user can invalidate the tokens of their choice, (5) you can grant restricted permissions to a token. You can do more or less things with tokens based on the needs of the application but it decoupling it from password gives you additional security and flexibility.
For authentication & authorization, the caller sends a bearer token. The format of the token is known to both parties and the server knows how to validate it.
It's better than username password combos because (1) not every "account" has a password, (2) tokens can and generally do expire, (3) it's not tied to the password if the password changes the tokens continue to be valid, (4) the user can invalidate the tokens of their choice, (5) you can grant restricted permissions to a token. You can do more or less things with tokens based on the needs of the application but it decoupling it from password gives you additional security and flexibility.