PSM versus CSM

Evening all, I am brand spanking new to Scrum.org but after doing some poking around and what not believe this is where I want/need to be. I apologize if this question has been asked but I can't seem to find it so am throwing it out there.

Can anyone give me some insight as to the difference between CMS vs PSM. How they are perceived, are they equal? One better? Pros/Cons?

I am finding it more important to have some kind of "backing" to support that I know what I know and was pleased to find I could take the test without having to sit through the two day CSM training (plus I don't have that kind of cash laying around at the moment).

Is the PSM well received? Recognized? It seems to be more real world - in practice and less proof of training, but that could just be wishful thinking on my part.

Any information would be greatly appreciated and helpful.

Thanks
Adam