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Essentially, print design is static and primarily limited by printing technology and budget, while web design needs to be dynamic and primarily limited by accessibility and bandwidth.
With print design it's okay to design for brief interactions, because most print design is intended for that (ads, brochures, business cards).
Conversely, with web design, you need to design to both attract temporary interest and also maintain longer interactions.
Print design can be limited to a tiny design space (a card) or allowed an enormous one (a newspaper or magazine page, a foldout page, a billboard).
While the web can allow for an infinite canvas, user behavior limits what people will be willing to scroll to see, and the user will only initially see what his screen is capable of displaying. Increasingly, that also means that designers need to design for netbook, tablet and mobile users, whose screens are smaller than laptop and desktop users.
To all the read above i'll
To all the read above i'll add this checklist, if no one minds :)
http://www.merttol.com/articles/web/checklist-for-better-web-graphics.html