In general there are no differences, they both mean the same thing. The latter sentence is preferred as it sounds 'smoother', i.e., the sentence would flow better when spoken. There are other cases when it is preferable to choose 和, for example, 今晚我和他一起去看电影。 今晚我与他一起去看电影。 The latter sentence sounds awkward, but the meaning is there. Note that these two words are not always interchangeable, in particular when they are used as part of a phrase, albeit having the same meaning (e.g. 天与地), that's how the language works.