What is the difference between commandments, testimonies, statutes, precepts, judgements, and law? Reading Psalms 119, we see the following words:


Commandments 
Law
Way
Testimonies
Precepts
Judgments
Statutes
Ordinances
Word


Deut 26: 16 - 19 reads


  16 “This day the Lord your God commands you to observe these statutes
  and judgments; therefore you shall be careful to observe them with all
  your heart and with all your soul. 17 Today you have proclaimed the
  Lord to be your God, and that you will walk in His ways and keep His
  statutes, His commandments, and His judgments, and that you will obey
  His voice. 18 Also today the Lord has proclaimed you to be His special
  people, just as He promised you, that you should keep all His
  commandments, 19 and that He will set you high above all nations which
  He has made, in praise, in name, and in honor, and that you may be a
  holy people to the Lord your God, just as He has spoken.”


Deut 6 : 1 reads


  “Now this is the commandment, and these are the statutes and judgments
  which the Lord your God has commanded to teach you, that you may
  observe them in the land which you are crossing over to possess,


There are many other places in the Old Testament where these words appear, but I couldn't quite grasp distinctly what they mean.
1) law - the first five books of the Old Testament; the Torah; the Pentateuch (Psalm 119:44)

2) testimonies - ordinances; God's standard of conduct according to the Ten Commandments (Psalm 119:2)

3) way - the pattern of life required by  God's law (Psalm 119:30)

4) precepts - injunction; requirement; commandment (Psalm 119:69)

5) statutes - things inscribed; enacted laws (Psalm 119:8)

6) commandments - a distinct, authoritative order (Psalm 119:166)

7) judgments - a binding law; judicial decision (Psalm 119:7)

8) word - a general term for God's revelation (Psalm 119:11)

Source: Nelson's NKJV Study Bible page 1003