Cash and Equivalents is total cash. It includes both cash and short-term investments.
For FactSet, the function is slightly more complicated. For most companies, it is the maximum of either cash (FF_CASH_ONLY) or cash and short-term investments (FF_CASH_ST). For financials, it is the maximum of either cash due (FF_CASH_DUE_FR_BK) or short term investments available to trade (FF_INVEST_OTH).