Testing designed to execute all or selected paths through a computer program [IEEE610]. Path testing ensures that all logic paths were tested.
A more general coverage criterion is one that requires all possible paths in the control flow graph be executed during testing. This is called the path coverage criterion or the all-paths criterion, and the testing based on this criterion is often called path testing. The difficulty with this criterion is that programs that contain loops can have an infinite number of possible paths. Furthermore, not all paths in a graph may be "feasible" in the sense that there may not be any inputs for which the path can be executed. [Source]
Below PDF shows Basis Path Testing and its examples. Below paper also gives clear difference between Path and Basis Path testing.
Basis Path Testing Paper
Also See:
Statement Coverage
Branch Testing
Path Testing
Basis Path Testing