Method is used for a way or approach that is logical, prescribed, well-known, or widely accepted. It is formal. Way is informal and is more amorphous or ambiguous. It may be improvised or jury-rigged. When we don't know how to do something, we try to find a way to do it (not a method). "There's a method (not a way) to my madness." (It has some kind of logic to it.) In your example, you would say "ways" because there are no logical, prescribed methods for how to interpret a proverb. There are several methods of swimming: freestyle, butterfly, backstroke. There are several methods that one can use to stop smoking. There is no way I am going to do that.

Hi Cynthia, Proper Use - Ex. "My method of studying english involves speaking the language more than I read the language in a textbook." I don't necessarily see a difference in the two, but that doesn't mean there isn't. Personally, I would use "method" if I was describing a process or procedure, and I would use "way" if I was talking about a direction. Proper use - Ex. "The hospital is this "way"." In that statement, you would be pointing or moving towards the hospital. Not proper use - Ex. "The hospital is this "method"." It doesn't fit in thit context. I hope this helps!

Way is a more basic word for method, but can also be used to mean different things. In this sentence, you can not use 'method'. 'Method' gives the context that a physical process is being used, whereas 'way' is simpler and gives the context of not just a physical process, but also a mental one. Sorry if that answer is confusing, it's the best I could do. Keep up the good work! :))