At its simplest, the difference is one of plurality:
I used to forget which one is which and end up having to look it up many times. To fix this problem, imagine rolling back as several rotations then hopefully the fact that rollback is plural will help you (and me!) remember which one is which. Backout sounds 'less plural' than rollback to me. Imagine backing out of a single parking space.
So, the mnemonic is:
I hope this helps!