Truststore and Keystore Definitions
A keystore contains private keys. You only need this if you are a server, or if the server requires client authentication.
A truststore contains CA certificates to trust. If your server’s certificate is signed by a recognized CA, the default truststore that ships with the JRE will already trust it (because it already trusts trustworthy CAs), so you don’t need to build your own, or to add anything to the one from the JRE.
Source
In a SSL handshake the purpose of trustStore is to verify credentials and the purpose of keyStore is to provide credential.
keyStore
keyStore in Java stores private key and certificates corresponding to their public keys and require if you are SSL Server or SSL requires client authentication.
TrustStore
TrustStore stores certificates from third party, your Java application communicate or certificates signed by CA(certificate authorities like Verisign, Thawte, Geotrust or GoDaddy) which can be used to identify third party.
TrustManager
TrustManager determines whether remote connection should be trusted or not i.e. whether remote party is who it claims to and KeyManager decides which authentication credentials should be sent to the remote host for authentication during SSL handshake.
If you are an SSL Server you will use private key during key exchange algorithm and send certificates corresponding to your public keys to client, this certificate is acquired from keyStore. On SSL client side, if its written in Java, it will use certificates stored in trustStore to verify identity of Server. SSL certificates are most commonly comes as .cer file which is added into keyStore or trustStore by using any key management utility e.g. keytool.
Source: http://javarevisited.blogspot.ch
A keystore contains private keys, and the certificates with their corresponding public keys.
A truststore contains certificates from other parties that you expect to communicate with, or from Certificate Authorities that you trust to identify other parties.
You may also be interested in the write-up from Sun, as part of the standard JSSE documentation:
http://docs.oracle.com/javase/8/docs/technotes/guides/security/jsse/JSSERefGuide.html#Stores
Typically, the trust store is used to store only public keys, for verification purposes, such as with X.509 authentication. For manageability purposes, it's quite common for admins or developers to simply conflate the two into a single store.