"Rhythm and Blues" is a term for a musical style. It is sometimes called "R&B" for short. As mkb points out, the term arose because the music features a rhythm section supporting a blues-based melody. Nowadays, term has been debased so as to become almost useless by its application to a large number of very different genres which are only vaguely related.

There seem to be several categories of use.

Whilst looking through the Internet for the above info, I spotted the terms "Rock R&B" and "Soul R&B" in the google cache. The site that used them no longer does. I think that these terms are more descriptive and should be preferred, especially when discussing the history of popular music.