ShoutCast and IceCast are both streaming server applications. ShoutCast and IceCast essentially serve the same purpose, and they're both free to use.
IceCast offers a few more advanced features and is open-source software.
ShoutCast is much easier to install (as it's self-contained in a single binary file), but it's proprietary and closed-source.
Both products are typically very stable and reliable, offer similar core feature sets, and are widely used by many high-traffic streaming radio stations.
We recommend the following broadcasting tools on both IceCast and ShoutCast.
EdCast - Click HERE to download
OddCast - Click HERE to download
B.U.T.T. - Click HERE to download
WinAmp - Click HERE to download
Sam Broadcaster - Click HERE to download (this is only a trial version. Sam Broadcaster is licensed broadcasting tool)